Domingo, 17 Diciembre, 2017

Oil Sinks To November Lows On Shock US Gasoline Build

Malita Javier | 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.

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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.

Videoarbitraje: cuánto tarda en aclarar una polémica
Sin embargo, desde la cabina de TV se determinó después que había sido en fuera de juego. El segundo juego del día también estuvo marcado por el videoarbitraje .

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.

MMVAs 2017 Photos: Stars Shine Bright For iHeartRadio-Much Music Event
The iHeartRadio Much Music Video Awards is held annually in Toronto, Canada and streamed online for fans around the world. While hosting is new territory for Cara - who says she's nervous she'll flub a line - Jonas has plenty of experience.

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