James Fontanella-Khan Spot news

Saudis wield influence with oil expansion
Most of the world is cutting back on oil investments (FT)

Shell plans further reductions in jobs
Group to brace for an acceleration of its restructuring plans (WSJ)

Opec to hold quota after oil reaches $75 Saudi target
Reducing shipments beyond record cutbacks last year would endanger recovery (Bloomberg)

Investors guessing as Xstrata plans move
Lonmin could receive a renewed bid from (FT)

Judge in Chevron case agrees to step aside
The recusal is a significant victory for Chevron (WSJ)

Conoco wants Venezuela’s stake in Texas refinery
Dispute over damages from drop in crude oil shipments (Reuters)

Gold drops, ending four-day dain
Investors sell as price nears $1,000 (Bloomberg)