Oil Sinks To November Lows On Shock US Gasoline Build
Oil Sinks To November Lows On Shock US Gasoline Build
20 Junio, 2017, 10:57
The Paris-based IEA said production outside the Organizationof the Petroleum Exporting Countries would grow twice as quicklyin 2018 as it will do this year, when OPEC and 11 partnernations have restrained output.
Top producer Russian Federation, not an OPEC member but which signed up to the cuts, is expected to export 61.2 million tonnes of oil via pipelines in the third quarter, equivalent to about 5 million bpd, against 60.5 million tonnes in the second quarter, according to industry sources and Reuters calculations.
Sponsored Content - Download our Executive Briefing to learn how agency and industry experts are hoping to reduce insider threats.
A Market Research Manager, Tradition Energy in Stamford, Gene McGillian, said in the report that fears of oversupply was driving the market, adding that crude oil price would appreciate soon.
Official figures published last week from the U.S. Energy Information Administration showed a significant build in inventory levels and traders will look to figures out later Wednesday to see if the trend was an anomaly. He said he believed the price of Global benchmark Brent crude would have to drop to $45 a barrel before U.S. rig growth slowed.
According to the EIA, total OPEC liquid fuels production is also expected to be lower than previously forecast. "In contrast, OPEC production recorded another year of solid growth (1.2 Mb/d), with Iran (0.7 Mb/d), Iraq (0.4 Mb/d) and Saudi Arabia (0.4 Mb/d) more than accounting for the increase".
US inventories fell less than forecast last week, keeping supplies more than 100 million barrels above the five-year average, according to data from the Energy Information Administration on Wednesday.
US drilling rig counts due later in the day on Friday could add further pressure, if it shows more were added.
Lawmaker: London fire evidence must be secured
It includes 30 deaths that already have been confirmed, and reports of people who are missing and presumed to have been killed. He said the temperature of the blaze at Grenfell Tower was comparable to a cremation.
OPEC member nations - Nigeria and Libya - which are exempt from production cuts have been ramping production.
Crude prices came under pressure Wednesday after official data showed global oil stocks had increased, despite attempts by major producers to rebalance the market.
Ross said surplus oil stocks were being drawn down, "but not at the rate Opec would like to see" because of United States production.
Energy services company Baker Hughes said last Friday that USA drillers last week added rigs for the 21st week in a row, the longest such streak on record.
Conning Inc acquired 195,855 shares as Travelers Companies Inc (TRV)'s stock declined 0.95%. (TRV) opened at 129.44 on Monday. First Personal Financial Services increased its position in The Travelers Companies by 133.3% in the first quarter.
But it was too little too late for the Northern Irishman who remains anchored near the bottom of the leaderboard at five over. In fact, you have to go down to 19th place to find a victor of a major, Sergio Garcia and Martin Kaymer, at three under.
Rising up by up to 1.45%, prominent gainers include Tata Motors , Infosys , PowerGrid, Tata Steel, Reliance Industries and ONGC. Punjab National Bank was the top percentage loser on the Nifty PSU Bank index, declining as much as 2.5 percent.
This has far-reaching implications, the least of which is that the Washington Redskins will now surely get their trademark back. Justice Neil Gorsuch joined the court after arguments were heard in the case and did not participate in Monday's decision.
Shares of CK Hutchison were up 0.4 per cent to HK$99.10 (S$17.50) at the midday trading break in Hong Kong . Li Ka-shing's eventual retirement has been long awaited, but would mark the end of an era for Hong Kong .
En Portugal , se elevó a 62 el número de muertos y hay 54 heridos por el incendio forestal que azota el centro del país. El incendio forestal que arrasa el centro de Portugal es el más mortífero en su historia de acuerdo a las autoridades.
And planning is behind schedule for a trip to India, raising doubts it will come off in 2017, said Vatican spokesman Greg Burke. Share with Us - We'd love to hear eyewitness accounts, the history behind an article, and smart, constructive criticism.
Finally, Mn Services Vermogensbeheer B.V. boosted its stake in shares of L-3 Communications Holdings by 3.6% in the first quarter. The aerospace company reported $2.07 earnings per share for the quarter, topping the Zacks' consensus estimate of $1.81 by $0.26.
Still, the snowballing investigation has deeply angered Trump, who denies he has any nefarious ties to Russian Federation . Feinstein has said the Judiciary Committee should investigate, but had asked Grassley to keep the investigations separate.
The turnaround began when Lady Luck shined down on Pakistan and the green-shirts were able to secure a win against South Africa through the DL method.
Casi 2 mil bomberos combaten incendio en Portugal
El último balance oficial era de 64 muertos y 62 heridos , incluyendo cinco en estado de gravedad, un niño y cuatro bomberos . El incendio en la región, escasamente poblada y dominada por pinos y eucaliptos, también destruyó decenas de casas.
"Dani Alves es un boludo" — Maradona
Quedará en la historia del fútbol y lo recordaremos, pero él solo no puede ganar un Mundial. "Messi no es mucho más que Ronaldo ". Después no me llamó nunca más y me entero que lleva a ocho entrenadores.
Woman gang-raped, thrown out of car in Greater Noida
According to Kumar, Noida police received a PCR call around 4 am today morning about the woman lying by the road. The 35-year-old victim, is a resident of Bharatpur in Rajasthan, had come to meet a relative in Sohna last week.
Filtran imágenes de los posibles cambios del iPhone 8
La colocación del lector de huellas de Apple en el próximo iPhone ha sido tema de conversación en el último año. Uno de las filtraciones que ha trascendido es que se podría desbloquear el teléfono con reconocimiento facial .
At last, a vaccine to fight cholesterol
In future, a cholesterol-lowering vaccine could theoretically provide a more effective and reliable alternative to statin drugs. A new vaccine for cholesterol could eventually improve the lives of 250,000 Irish people, it is being claimed today.
Bee Gees star Barry Gibb speaks of abuse attempt
Barry told the magazine: "I saw a picture of Robin in the paper, and I took that picture to my doctor and I showed it to him". Barry Gibb will play the Pyramid Stage at Glastonbury on Sunday at 4pm.
Media praises Pakistan after huge triumph
Muhammad Yousaf said with no worldwide cricket being played in Pakistan, the victory is a silver lining in the dark cloud. To avoid unnecessary and unwelcomed tensions, security personnel were deployed outside cricketer M.
It's a massive boost for Pakistan cricket: Mickey Arthur
Hardik Pandya cheered India fans in a capacity crowd as he hit three sixes off successive balls to bring up a dashing fifty. However, Kohli's press conference, post the match, started on a odd or an entertaining note (depend on the way you see it).