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UPDATE 1-OPEC officials cheer improving market ahead of Vienna meeting

VIENNA, May 29 (Reuters) - OPEC will meet next week amid rising global demand and a reduction in supply, which are both helping to support prices, two OPEC officials said after pre-meeting talks.

Islamic State not significant threat in Saudi Arabia-US military

WASHINGTON, May 29 (Reuters) - Islamic State is not a significant threat in Saudi Arabia, the U.S. military said on Friday, as it declined to speculate on the Sunni militant group's claim of responsibility for a deadly bombing at Shi'ite Muslim mosque.

US ethylene market expects more supply in summer

Spot ethylene prices have been rangebound along the US Gulf Coast recently, but as US editor Pavel Pavlov explains, some big events are on the horizon this summer.

Indian Oil shifts focus to expanding natural gas business

NEW DELHI, May 29 (Reuters) - Indian Oil Corp (IOC) , the country's biggest refiner, is expanding its natural gas business as the south Asian nation, the world's third-largest carbon emitter, aims to cut its dependence on coal and oil.

UPDATE 1-Heavy rains pound North Texas, severe weather kills 20 in the state

DALLAS, May 29 (Reuters) - Storms bringing as much as 7 inches (17.8 cm) of rain drenched North Texas overnight into Friday, prompting hundreds of calls for emergency assistance and adding to the woes of the state where at least 20 people have been killed in severe weather this week.

UPDATE 1-USDA to invest $100 million in grants for ethanol fuel pumps

May 29 (Reuters) - U.S.

OPEC officials celebrate better market ahead of key meeting

VIENNA, May 29 (Reuters) - OPEC is gearing up for a meeting next week amid rising global demand and a reduction in supply, which are both helping to support prices, two OPEC officials said after pre-meeting talks.

UPDATE 1-Rare run of oil finds is little respite for price-hit explorers

* Seven oil and gas discoveries made in recent weeks * 2015 still expected to see lowest discoveries on record * Exploration companies slash budgets after oil collapse * Graphic on oil discoveries: http://link.reuters.com/ted84w (Adds table, corrects spelling in paragraph 18) By Ron Bousso LONDON, May 29 (Reuters) - Exploration firms have made a rare run of oil and gas discoveries in recent weeks as more targeted search strategies bear fruit, but t

Eni talks on Mozambique sale sticking in oil slide

MILAN, May 29 (Reuters) - Talks between Eni and suitors including Chinese state utility Huadian for a stake of around 15 percent in the Italian oil major's prized Mozambique gas field are dragging on due to differences over price, industry and banking sources said.

Heavy rains pound North Texas, severe weather kills 18 in the state

DALLAS, May 29 (Reuters) - Storms bringing as much as seven inches of rain drenched North Texas overnight into Friday, prompting hundreds of calls for emergency assistance and adding to the woes of the state where 18 people have been killed in severe weather this week.

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