Oil Futures Continue Rising; WTI Nears $50

Saudi Arabia and non-Opec Russia, the world's top two oil producers, have agreed on the need to prolong the current cuts until March 2018, although Saudi Energy Minister Khalid al-Falih said extended curbs would be on the same terms.

The decision by Russian Federation and Saudi Arabia to drive up oil prices by extending the production cuts to 2018 points to a deepening alliance between the two countries.

On Wednesday, the rise in both benchmarks was seen after the news of drop down came in USA crude inventories and a dip in US output.

Meanwhile, the price for June futures of West Texas Intermediate (WTI) has grown by 0.75 percent and stood at $49.72 per barrel.

Will Smith defends Netflix as Cannes Film Festival 2017 jury clash
With Netflix they get the benefit to watch what they never would have seen, it brings great connectivity to them to the world. But Smith was among those not clapping and he disagreed with the Spanish director, revealing his kids are huge Netflix fans.

"In contrast, oil supply in 2017 was revised up by 0.36 million barrels per day to average 58.25 million barrels per day - representing year-on-year growth of 0.95 million barrels per day, following changes in all quarters, mostly in the United States, based on USA actual production data from February and new forecasts for crude oil output".

Michael Wittner, global head of oil research at Societe Generale, said the market was well on its way toward bracing for an Opec cut. The EIA still expects USA production to average 9.31 million bpd in 2017.Crude stocks have been edging lower after hitting a record 535.5 million barrels at the end of March.

OPEC didn't give USA shale enough respect In the International Energy Agency's (IEA) latest monthly report, estimated inventories in industrialized nations totaled about 3.025 billion barrels on March 31.

In addition to USA crude stocks drawing down for the sixth consecutive week, the EIA showed an increase in refining rates. Though there is no authentic source of getting oil inventory data, analysts say that crude oil floating inventory is between 800 million to 1 billion barrel. Analysts estimate that every dollar increase in the oil price between $45 and $55 a barrel results in an additional 1.2 billion barrels that become economical to produce.

Former US Rep. Anthony Weiner Faces Charges In Sexting Case
Trump and other Republicans accused her of endangering national security by exposing classified information to potential hacking. His lawyer can request leniency at a sentencing scheduled for September 8.

Output slipped to 9.305 million barrels a day last week from 9.314 million in the prior week.

OPEC and other producers are due to discuss an extension during an OPEC meeting on Thursday. That works somewhat in USA drillers' favor because they heavily hedge their production, Currie explained, meaning they lock in a future price for delivery.

But the International Energy Agency said Tuesday that just extending the cuts wouldn't be enough to bring markets in balance.

While Army fights terrorists, society needs to fight terrorism: COAS
According to Ghafoor, the seminar was focusing on an analysis of "the phenomenon of extremism". The army chief said it is unfair and unsafe to associate extremism with Islam.

Artículos relacionados

  • Seoul May Launch Preemptive Strike in Case of 'Imminent' Pyongyang Attack

    Seoul May Launch Preemptive Strike in Case of 'Imminent' Pyongyang Attack

    The missile flew 787 km (489 miles) on a trajectory reaching an altitude of 2,111.5 km (1,312 miles), KCNA said. North Korea's leader observed the launch of the rocket, according to the Korean Central News Agency (KCNA).
    Prince's 6 siblings are heirs to his estate, judge rules

    Prince's 6 siblings are heirs to his estate, judge rules

    Prince's family, of course, has raised issues about the delay of distribution, saying that prolonging it will diminish the estate. Attorneys for those who appealed said their interests would be harmed if the district court didn't wait out the appeals process.
    Canciller afirma que Venezuela no es una amenaza para EEUU

    Canciller afirma que Venezuela no es una amenaza para EEUU

    En su mensaje de apertura de la XX reunión del Cofcor, Straker mostró su preocupación sobre la situación que se vive actualmente en Venezuela y afirmó estar "ansioso" para que regrese "la paz y la estabilidad" en ese país.
  • Medicaid expansion linked to better care access, better health

    The AHCA can potentially solve this problem making OTC medications more accessible and affordable to the public. Grow up, stop being selfish and have some courage to offer us the peace of decent health care.
    USA  air strikes hit Syrian militias

    USA air strikes hit Syrian militias

    Russia has condemned a USA coalition attack on Wednesday that it claims had hit civilians, Russian news agencies reported . Meanwhile, a military source said the strike reveals the real scheme by the USA and Zionist entity against Syria.
    Debemos reforzar los mecanismos de protección a periodistas: Corral

    Debemos reforzar los mecanismos de protección a periodistas: Corral

    La investigación sobre el asesinato de Breach ya está concluida, según indicó Corral Jurado a medios nacionales el día de ayer, cuando entregó un informe al presidente de México, Enrique Peña Nieto, sobre este caso y le solicitó algunas gestiones, de las cuales no se dio mayor detalle.
  • Syria, allies condemn attack by US-led coalition

    The U.S. -led coalition is battling the Islamic State, also known as ISIS , in Syria and is generally not attacking Assad . The U.S. -led coalition said the convoy that was attacked consisted of Syrian and Iranian-backed militias.
    Promueven entre mujeres saltillenses la donación de leche materna

    Promueven entre mujeres saltillenses la donación de leche materna

    El bebé alimentado con leche materna puede tener un menor riesgo de padecer diabetes, síndrome de muerte súbita del lactante, caries en los dientes entre otros.

    Price Target Estimates of: Juniper Networks, Inc. (JNPR)

    The active investment managers in our partner's database now have: 320.44 million shares, up from 316.19 million shares in 2016Q3. As analysts monitor volatile markets in recent weeks they have updated their price targets on shares of Juniper Networks, Inc .
  • Senate intel chair backtracks on claim Flynn won't honor subpoena

    On March 30, Flynn offered to testify before both the House and Senate Intelligence Communities in exchange for immunity. Burr later walked back his position, saying Flynn still had "a day or two" to comply.

    Mylan (MYL) Position Raised by Bank of The West

    On average, equities research analysts forecast that Mylan will post $5.17 earnings per share for the current fiscal year. The company had revenue of $2.72 billion for the quarter, compared to analysts' expectations of $2.81 billion.

    "Star Wars" filmmakers get help from Google's VR tool Seurat

    To show off this new Suerat tech, they partnered with Lucas Film's ILMxLAB to render a scene from last year's hit movie Rogue One: A Star Wars Story.