Iran sells crude oil at $50.93 per barrel in a week
13 September, 2017, 00:42 | Author: Irene Delgado
The increasing numbers of operating rigs, as well as increasing production, have been raising concerns that the US shale oil producers which were able to cut their production cost dramatically over the past years are now a low-priced global competitor and would continue to undermine the OPEC agreement to cut supplies.
Among persistent glut worries, Saudi Arabian Energy Minister Khalid al-Falih had discussions with his Venezuelan and Kazakh counterparts about the chances of extending supply cuts through March 2018.
The initial OPEC-non-OPEC agreement pushed Brent prices up to nearly US$57 a barrel and WTI to over US$54 a barrel in January this year, but since then, the benchmarks have been sliding down, with a few notable interruptions of the trend thanks to supply disruptions and the May decision to extend the cuts beyond the original deadline of June 30, 2017.
OPEC and other producers, including Russia, Mexico and Kazakhstan pledged in late 2016 to reduce output by about 1.8 million barrels a day to eliminate a global surplus that was depressing prices. U.S. West Texas Intermediate (WTI) crude CLc1 declined 30 cents at $47.77 a barrel.
Crane collapses as winds howl in South Florida
He said videos of the collapse posted on social media showed a luffing crane, which lacks a horizontal arm and does not spin. Officials urged people in buildings facing the crane to seek shelter on the opposite side of the building or in a stairwell.
OPEC's oil output dipped in August, the organization said Tuesday, a sign that supply and demand could be moving further towards balance. OPEC exempted the two nations from cutting production because their output had already tanked due to domestic conflicts. "There is also a lot of talk about whether OPEC is going to extend its deal or not and the market is weighing a lot of outcomes". While some oil processing has recovered, 6 percent of US capacity still remains shut.
Benchmark crude futures were sideways in range-bound trading early Tuesday in Asia, as the recovery of refining capacity in Texas shut by Hurricane Harvey more than two weeks ago slowed down to a crawl and the market awaited further direction from the latest weekly U.S. stocks data, due out from the industry body American Petroleum Association later Tuesday, to be followed by the official figures from the Energy Information Administration Wednesday. "A similar production level is also anticipated for September", the Saudi ministry said.
Al Falih hailed the efforts of the UAE to rebalance the market, the report said.
Data from industry group the American Petroleum Institute (API) was due later on Tuesday while the U.S. Department of Energy's Energy Information Administration (EIA) will release its numbers on Wednesday (9/13).
These concern the contracts for its AdSense advertising service and the licensing of its Android mobile phone operating system. Google had initially said that they "respectfully" disagrees with the legal argument.
It's really fun to be where I am. "Royce and Charles have to be 10-year players in that program from what I remember", Riley said. Try as you might, you aren't going to find many game ball recipients as deserving as these three fearless children.
Xiaomi on Monday introduced several new devices, including the bezel-less Mi MIX 2 flagship and the more conventional Mi Note 3 . It also features 2 USB-C ports however only 1 port can be used to charge the device, the 2nd port is only for data transfer.
Hurricane Katia has deteriorated into a soggy tropical depression that is dumping rain over the mountains of east-central Mexico. The natural disaster , the strongest to strike Mexico in more than 80 years, killed at least 61 people.
Some players are actually calling for a boycott of the game's microtransaction system, which is gaining a lot of traction. Destiny 2 shaders are a little more than colors, they can add effects like textures and chrome effects for example.
The region has witnessed tension between its Buddhist and Muslim populations since communal violence broke out in 2012. They use "the combination of human rights violations, and deliberate impoverishment, to force Rohingyas to leave".
Long said it was "hard to say" how long the $15 billion approved by Congress for disaster relief will last. He said he was saying prayers for us. "He really wants to make sure that we're taking care of the people".
Last season, during two victories against Dallas a quarterback notorious for turning the ball over threw just two picks. Part of the struggles of the Cowboys' offense against the Giants' defense come from the personnel the Giants deploy.
Marouane Fellaini is also out of contract next summer, with United having invoked the extension clause in his deal in January. Mourinho said, as per reports from ESPN . "All the other players are under the club control until end of the 2018-19 season.
Bilic offers Sakho another lifeline at West Ham
Ayew set up Obiang's goal and then poked home after Fonte's shot from Aaron Cresswell's corner was blocked. Javier Hernandez hit the bar in the first half, in one of West Ham's few clear-cut chances.
75 in US News Rankings
Among all national universities , including private universities, FSU ranked 81st, up from 92nd past year , the university said . Also, the Air Force Academy has the best civil engineering program at public schools.
Hurricane Irma forces millions to evacuate
In its 4 p.m. advisory, the National Hurricane Center said Katia now has maximum sustained winds of 105 miles per hour . Only 26 minutes separated the announcements of Irma and Katia making landfall.
China to Shut Bitcoin Exchanges
China's looming ban on virtual currency trading won't affect the global market as exchanges based in other countries will continue to operate.