Energy Update

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VIENNA, June 3 (Reuters) - Six months after OPEC upended oil markets and sent prices crashing, the head of U.S. oil giant ExxonMobil has an unusual message for the cartel: thanks.

NEW DELHI, June 3 (Reuters) - State refiners Indian Oil Corp and Hindustan Petroleum Corp are holding talks with Iraq's national oil company to buy 4 million barrels of Basra light crude oil for India's strategic petroleum reserves (SPRs), three sources said.

VIENNA, June 3 (Reuters) - OPEC is set to carry on pumping oil nearly flat-out for months more, content that last year's shock market therapy has revived demand and knocked back growing competition.

WARSAW, June 3 (Reuters) - Polish coal miner Bogdanka has asked the antimonopoly office to investigate state-owned rival Kompania Weglowa (KW) over what Bogdanka says are cut-price offers directed by KW at Bogdanka's clients.

LONDON, June 3 (Reuters) - The vanishing contango in U.S. crude oil futures points to a sharp draw down in crude stocks over the next few months as the incentive to store excess oil disappears.

VIENNA, June 3 (Reuters) - The top oil officials of Iraq and Venezuela said on Wednesday that $75 to $80 a barrel was now a "fair" price for oil, reflecting an emerging consensus on a possible equilibrium for volatile markets.

* Opponents say power lines destroy landscape, devalue property

WASHINGTON, June 3 (Reuters) - Michael Brune is pleased that activists in kayaks are training for another "Paddle in Seattle" to confront an expected Royal Dutch Shell rig on its way to the Arctic to explore for oil.

NEW YORK, June 3 (Reuters) - Canada's Come By Chance refinery, located on the eastern island of Newfoundland, has bought Nigerian oil for the first time in at least a decade, the latest addition to the facility's diverse crude slate, according to Reuters customs data.

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