Monday, 25 September, 2017

Iraq, Algeria support extension of oil production cuts

Oil Pump California RTR FBN Oil Price Forecast - News Continues To Be Bearish For Oil
Mae Harvey | 12 May, 2017, 03:51

Later in the day Tuesday, the American Petroleum Institute reported total crude oil stocks declined 5.8 million barrels last week.

The producer group and other major suppliers including Russian Federation agreed a year ago to cut their collective production by about 1.8 million barrels a day for the first half of 2017 in an effort to reduce bloated global stockpiles and re-balance the market.

Oil prices rose on Thursday, with benchmark Brent crude trading comfortably above $50 a barrel after a fall in USA inventories and a bigger-than-expected cut in Saudi supplies to Asia helped tightened the market.

State-owned Saudi Aramco would reduce oil supply to Asian customers by about 7-million barrels in June, a source told Reuters, as part of Opec's agreement to reduce production and as it trimmed exports to meet rising domestic demand for power during the summer.

OPEC is expected to decide at talks on May 25 whether to extend the current deal to cut production for an additional six-months to the end of the year.

Oil prices pared gains on Thursday after the release of the report to trade at less than $51 a barrel LCOc1 , below the $60 level that top OPEC producer Saudi Arabia would like to see. U.S. WTI crude wasp 29 cents or 0.6% at $46.17 per barrel.

The Players Championship tee times and pairings: Thursday's Round 1
"I alluded to the fact that I wasn't really happy with the golf ball I was playing and I needed to do something", McIlroy said. I think you would be somewhat of a machine if you said every week that, yeah, I'm the best and I believe in myself 100 percent.

Tillerson says US won't be rushed on climate change policies
It's an important trip for Finland, which takes over the rotating two-year chairmanship of the council at a delicate time in worldwide politics.

Wizards' Oubre suspended for Game 4 for knocking over Olynyk
Thomas then jokingly said, " Kelly is one of the dirtiest players I know", before turning serious and saying he's a clean player. Dude's dirty . "He's a guy who can really hurt you from the 3-point line".

A weak 10-year note auction sunk demand for USA government debt as the prices on benchmark 10-year notes erased earlier gains to trade flat.

Iraq and Algeria support the extension of oil production cuts by OPEC and non-OPEC producers through the end of the year to try to boost prices, they said in a joint statement Thursday.

Opec has reduced output as promised, but there have been few signs so far that supply has fallen significantly as producers have shielded many key customers, especially in Asia, from cuts. OPEC did not publish a compliance number.

The forecast for 2018 rose to 1.95 million barrels per day as compared to 1.91 million barrels per day in April report.

However, analysts remained concerned about rising output from the US, Libya and Nigeria and questioned whether the rebound could be sustained. Finally the EIA inventory numbers were better than expected, crude drew 5.3m barrels, way more than the expectation of just under 2m and there were draws in gasoline, 150/- b's and distillates, 1.6m b's as well.

Any more supply from OPEC or non-OPEC could return the market to surplus.

Recommended

  • Tribune Media (TRCO) Receiving Somewhat Favorable News Coverage, Report Finds

    Tribune Media (TRCO) Receiving Somewhat Favorable News Coverage, Report Finds

    The recommendation scale measures the value from 1 to 5, where 1 means "Strong Buy" and 5 stands for "Sell". Stockholders of record on Monday, May 22nd will be paid a dividend of 0.25 per share on Tuesday, June 6th.
    Murray bows out as Nadal, Djokovic march on in Madrid

    Murray bows out as Nadal, Djokovic march on in Madrid

    Nadal faces David Goffin in Friday's quarter-finals after the Belgian beat world number six Milos Raonic 6-4, 6-2. Women's defending champ Simona Halep has crushed American Coco Vandeweghe 6-1, 6-1 to reach the semis.

    Tillerson arrives in Alaska for Arctic meeting

    The SWIPA report goes on to say, if greenhouse gases are reduced now, numerous changes could slow or stop after the middle of the century.
  • Led coalition lauds capture of Syrian IS town

    Meanwhile, Pentagon chief Jim Mattis expressed confidence that the United States can allay Turkey's concerns over the decision. The United States regards the YPG as a valuable partner in the fight against Islamic State militants in northern Syria.
    Joanna Jedrzejczyk on Jessica Andrade and Aiming for UFC Flyweight Title

    Joanna Jedrzejczyk on Jessica Andrade and Aiming for UFC Flyweight Title

    But while she certainly respects what Andrade brings to the fight, Jedrzejczyk also learned a few things about her from sparring. Many are calling the fight as Joanna's toughest ever. "I have seen is so many times and can see that my opponents are scared".
    Trump, top Russian Federation  envoy to meet at White House

    Trump, top Russian Federation envoy to meet at White House

    Trump has said he has no ties to Russia and isn't aware of any involvement by his aides in any Russian election interference. US Secretary of State Rex Tillerson will attend the Wednesday meeting, a US State Department official told Sputnik.
  • North Korea missile threat: THAAD defence could be axed by Moon Jae

    The polls will close in a few hours and doubtlessly Moon Jae-in, who led the polls for months now, will be proclaimed the victor . The system has angered Beijing, which says its powerful radars allow Washington to spy on its own military operations.
    Thousands of people fill arena to hear from Warren Buffett

    Thousands of people fill arena to hear from Warren Buffett

    Buffett said the bloody removal of a 69-year-old passenger from a United Express plane in Chicago was obviously "a bad mistake ". Berkshire Hathaway Chairman and CEO Warren Buffett prepares to hug table tennis player Ariel Hsing, bottom.

    Spurs fans drench Ginobili in social media love after block on Harden

    The Spurs should finish the Rockets in game 6 in Houston, but that depends on what attitude they have when they are in Houston. Leonard, nursing the left ankle, walked slowly but was able to participate in the team's shootaround on Thursday morning.
  • Oil prices edge up in anticipation of extended crude output cut

    US West Texas Intermediate (WTI) crude futures were at $47.57 per barrel, up 24 cents, or 0.5 per cent from the last settlement. Brent crude has endured a volatile past few years, plummeting from more than $100 a barrel in 2014 to less than $30 last year.
    State police: 3 dead, including deputy, in rural Arkansas

    State police: 3 dead, including deputy, in rural Arkansas

    Two other people were found dead near a home, and authorities say the deaths appear to be linked to Mainhart's killing. The incident happened at the intersection of State Highway 27 and Slow Fork Road near Chickalah in Yell County.

    North Korea accuses US, South Korea of assassination attempt

    North Korea has a history of making unfounded and irrational claims, and CNN was not able to independently corroborate the report. Trump even ordered two major attacks in Syria and Afghanistan last month, both of them viewed as stern warnings to the North.

Manfred speaks out on Sox-O's intervention On Wednesday night, the Red Sox permanently banned from Fenway Park a man they said used a racial slur. Dylan Bundy's fastballs at Mookie Betts' hip may have slipped under the radar.

Parents of freed Nigeria schoolgirls still wait to see them Nigeria's government has come under fire for the length of time it has taken to reunite the former hostages with their families. The Red Cross had on Monday explained its rolein freeing the girls.

European Union reassures Ireland over post-Brexit "hard border" fears European Union  reassures Ireland over post-Brexit British Brexit minister David Davis said in March that technology could prevent the need for physical customs officers. Earlier: The EU's chief Brexit negotiator arrives in Ireland today.

Spurs overcome Leonard injury, Harden to beat Rockets in OT Patrick Beverley scored 20 points, while Anderson and Gordon added 19 and 11 points, respectively, for the Rockets . They missed several wide open threes down the stretch that likely would have changed the complexion of the game.

Treasurer calls Shorten's budget 'bulldust' Treasurer calls Shorten's budget 'bulldust' Social Services Minister Christian Porter said that Labor had not outlined enough to fund the NDIS. Although affecting only one in 100 taxpayers, this would save $1.3 billion over the medium term.

Illini football players arrested Illini football players arrested According to court records, Darta Lee, 18, is in custody on preliminary charges of home invasion and armed robbery. All three were arrested in connection with an alleged incident at Bromley Hall, a university dormitory.

Diddy Named Wealthiest Hip-Hop Artist for Sixth Year in a Row Diddy Named Wealthiest Hip-Hop Artist for Sixth Year in a Row Puff earned much of his wealth through Cîroc Vodka, Revolt TV, his "Bad Boy Family Reunion Tour", as well as other investments. Dre" Young, with a net worth of $ 740 million , largely from his Beats deal with Apple in 2014.

Lavrov acknowledges Comey fracas by quipping 'Was he fired?' Lavrov acknowledges Comey fracas by quipping 'Was he fired?' The meeting was reported to be private, but photographers from the state-run TASS of Russian Federation were there. Tillerson's office says his meetings with Lavrov will focus on "Ukraine, Syria, and bilateral issues".

Paul Pogba transfer being investigated by Fifa Paul Pogba transfer being investigated by Fifa Before Manchester United fans get too worked up, it looks as though the club are not the ones being investigated, rather Raiola. During his later years at the club, the Scot would often say there was no value in the transfer market.

Bank of England keeps rates at record low as economy slows The March trade deficit expanded, while construction and production results all added further disappointment by missing forecasts. The Resolution Foundation think tank noted that 40 percent of the British workforce have been affected by falling wages so far.

DeVos booed delivering Bethune-Cookman address DeVos booed delivering Bethune-Cookman address Dozens of activists lined a sidewalk early Wednesday; their signs included "DeVos is not worthy". Betsy DeVos delivers speech to graduates at Bethune-Cookman University on May 10.

He is an example of our season - Conte lauds 'fantastic' Fabregas Chelsea next travel to The Hawthorns on Frida evening where they only need a win to clinch the Premier League title in Antonio Conte's first season as Manager.

Paul Ryan: Speaker says 'people had lost confidence' in Comey Paul Ryan: Speaker says 'people had lost confidence' in Comey Trump will meet on Wednesday with the FBI's acting director, Andrew McCabe, to discuss morale at the agency, Sanders said. Burr said in a statement following Comey's firing that he was "troubled by the timing and reasoning" of the termination.

Dana White Hoping To Negotiate With Team Mayweather Monday Dana White Hoping To Negotiate With Team Mayweather Monday Obviously both guys want to fight each other, but you know, what's the deal? " It's not getting close at all ." said White. As De La Hoya indicated, Mayweather has already fought Alvarez, winning a majority decision in 2013.

Harden, Rockets rout Spurs 125-104 to tie series Harden, Rockets rout Spurs 125-104 to tie series In games like Game 4 , when the Rockets offense gets unfathomably hot and runs away to a huge lead, that isn't impacted as much. D'Antoni led the Rockets to 55 wins in his first season in Houston , trying for the fourth-most victories in franchise history.