20130111 1113 Global Markets & Energy Related News.

GLOBAL MARKETS-Asian shares rise on growth optimism, yen slides
TOKYO, Jan 11 (Reuters) - Asian shares rose amid an improving outlook for global economies and reduced anxiety over the euro zone's debt problems, while the yen slid on renewed expectations for aggressive monetary easing in Japan.
"The trade data from China showed a balanced growth in both imports and exports, raising investor confidence and lifting risk assets," said Park Sung-hoon, an analyst at Woori Investment & Securities in Seoul.

China Dec inflation quickens to 2.5 pct on year
BEIJING, Jan 11 (Reuters) - China's annual consumer inflation sped to a seven-month high of 2.5 percent in December from November's 2 percent, data showed, overshooting market expectations and dampening the chance for further policy easing as the economy recovers.
Economists polled by Reuters had forecast December inflation to climb to 2.3 percent. The National Bureau of Statistics also said that China's producer prices fell 1.9 percent in December from a year ago, easing from November's 2.2 percent annual fall but steeper than forecasts for a 1.8 percent decline.

FOREX-Yen pummeled to 2 1/2-year low on Abe, Japan c/a deficit
TOKYO, Jan 11 (Reuters) - The yen slid to 2 1/2-year lows after Japanese Prime Minister Shinzo Abe said the Bank of Japan should consider maximising employment as a policy goal on top of its current price stability mandate.
"The data shows Japan's trade balance is hit by slow trade with China since September (after a territorial dispute that sparked anti-Japan riots.) Deficit in the current account is likely to continue in the next couple of months given its seasonal pattern," said Ayako Sera, market economist at Sumitomo Mitsui Trust Bank.

OIL-Oil rises after Saudi Arabia cuts output
NEW YORK, Jan 10 (Reuters) - Oil futures rose on Thursday on news that top world oil exporter Saudi Arabia had cut back production in response to flagging demand, and after China reported strong demand for its exports.
"The strong data from China indicates demand might be improving there and the Saudis have cut back production, but the downward revisions by the Philly Fed gave the market a little pause," said Phil Flynn, analyst at Price Futures Group in Chicago.

Saudi Arabia cuts oil output as demand eases
DUBAI, Jan 10 (Reuters) - Saudi Arabia has cut oil production substantially, moving to fend off a growing overhang in world oil supply and defend prices well above $100 a barrel.
In the last two months of 2012, OPEC's lead producer responded to slower demand by lowering supply by around 700,000 barrels per day, with output in December falling to around 9 million bpd, an industry source familiar with Saudi policy said.

Europe oil demand: 20 year low and to slide further
By Simon Falush
Oil demand in Europe, already at its lowest in 20 years after five years of declines, is set to fall further, dented by a bleak economic outlook, increasing energy efficiency and a switch to alternative forms of energy.  
The International Energy Agency predicted that demand for oil for the biggest and most developed European nations is set to contract in 2013, while other areas, especially much of Asia, will see robust growth.