Lunes, 21 May, 2018

Oil Set for Longest Run of Weekly Losses Since 2015 Amid Glut

Oil-Production-Consumption-by-World-Region-20170615 Oil Set for Longest Run of Weekly Losses Since 2015 Amid Glut
Malita Javier | 19 Junio, 2017, 05:03

Canada's oil-sands will increase production rapidly in the next three years, ranking only behind US shale as the biggest contributor to global supply growth.

On Thursday, oil prices hit six-month lows.

Oil prices tumbled to the lowest level in seven months Wednesday, as high oil inventories continued to erode confidence in the ability of major producers to ease a global supply glut. They remained roughly 13% below, when producers led by the OPEC extended a pledge to cut manufacturing by 1.8 million bpd by an extra nine months until the end of the 1st quarter of 2018. Crude output climbed, while nationwide crude inventories fell less than predicted.

U.S. gasoline inventories rose 2.1 million barrels last week, putting them 9 percent higher than their five-year average for this time of year, according to the U.S. Energy Information Administration (EIA).

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Fellow Special Agent David Bailey was not shot but was treated and released after suffering an injury during the incident. The congressman sustained "substantial damage" to organs and blood vessels, Sava said, and remains in intensive care.

Brent crude oil fell 30 United States cents to $46.70 a barrel, its weakest since May 5 and just above six-month lows, before recovering a little ground to trade at $46.80 by 7.55am GMT. A rise in United States crude oil exports could have also contributed to the fall in inventories.

Oil held losses below $45 a barrel after sliding to the lowest in seven months as US gasoline supplies unexpectedly rose for a second week.

Crude prices have fallen by more than 10 percent since late May, pulled down by an supply glut that persists despite a move led by the Organization of the Petroleum Exporting Countries (OPEC) to cut production by nearly 1.8 million barrels per day (bpd) until the end of the first quarter of 2018.

Oil prices fell on Wednesday after data showed a build in US crude stocks and OPEC reported a rise in its production despite its pledge to cut back on output. The global benchmark crude traded at a premium of $US2.18 to August WTI. Additionally, the IEA projects that non-OPEC nations collectively will expand their output by 700,000 B/D in 2017 and 1.5 million B/D in 2018, slightly more than the forecasted growth in global demand.

Champions Trophy 2017: Pakistan crush India with devastating bowling display
On a lifeless wicket, Pakistan got a muchneeded lifeline early on in their innings and they kicked off from that point. Asked if Pakistan's victory was a big moment for the region, he said: "I congratulated them in the post-match".

Energy services company Baker Hughes said last Friday that US drillers last week added rigs for the 21st week in a row, the longest such streak on record.

OPEC said Tuesday, that output from the group rose by 336,000 barrels per day in May to 32.14m barrels per day.

"Opec 2017 year-to-date exports are only down by 300,000 barrels per day from the October 2016 baseline", analysts at AB Bernstein said.

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May's response has been contrasted with that of Corbyn, who hugged locals at the estate during his visit on Thursday, and the royals who met residents and volunteers on Friday.


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Fakhar, Amir sparkle as Pakistan stun India He didn't show any nerves which Pakistan usually do against India . "Mohammad Amir is fit and he is back." says Sarfraz Ahmed. He dismissed Rohit Sharma (nought), India captain Virat Kohli (five) and Shikhar Dhawan (21) in a stunning new-ball spell.

Seminoles' meltdown in field helps LSU post 5-4 win in CWS Seminoles' meltdown in field helps LSU post 5-4 win in CWS Coomes was 2-for-2 with a walk before being lifted for a pinch runner - Slaughter - after leading off the seventh with the walk. The Seminoles (45-22) had runners on first and second in the ninth when Zack Hess ended the game with a strikeout of Busby.

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