Saturday, 18 November, 2017

Nigeria says its oil output remains below agreed OPEC cap

ABD'den kritik Irak açıklaması! Iraqi Kurds vote in historic referendum
Kelvin Reese | 26 September, 2017, 00:45

The front-month in US crude's West Texas Intermediate (WTI) futures settled down $0.14, or 0.3%, at $50.55 a barrel on the New York Mercantile Exchange.

The meeting noted that overall compliance by OPEC and non-OPEC participating countries to the agreement on crude oil production cut for the month of August was 116 percent, the highest since the agreement came into effect January 2017.

"Oil is relatively underpriced compared with other markets, but any steep rise would be offset by rising shale oil production", said Tomomichi Akuta, senior economist at Mitsubishi UFJ Research and Consulting in Tokyo. While demand has yet to catch up to elevated supplies, rebounding economies in Europe and steady economic growth in the USA could at least keep oil prices steady around current levels in the second half of 2017.

Crude is still trading more than 50 percent below mid-2014 levels amid concern over whether output curbs by the Organization of Petroleum Exporting Countries will be enough to eliminate a global glut.

Baby Girls For Both Kim Kardashian And Kylie Jenner !!!
Kylie shared the below photo of herself after news of her pregnancy broke, purposefully flashing her stomach. "She teared up. Although fans are yet to hear the baby news from the horse's mouth, Kylie continues to tease her followers on social media.

Hurricane Maria Weakens as It Moves North
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Police say gunman captured after opening fire at church
A church member who ran up and confronted the gunman was pistol-whipped by him, the police spokesman said . Nashville police say a gunman has been captured after opening fire at church, killing 1 and wounding 7.

The higher price of oil is also expected to translate into higher prices at petrol pumps, which could push inflation above 3%. The U.S. government on Wednesday announced a build of 4.6 million barrels for the week ended September 15.

The energy minister from the United Arab Emirates Suhail al-Mazroui said the country's compliance with OPEC's supply cuts was 100 per cent. "The more favourable supply-demand dynamic could see Brent crude reach $60 per barrel and two-year highs this year". At Wednesday' session, Brent and WTI were up about 16% for the third quarter - on track to their largest quarterly gain since 2004. Earlier this year, Brent was in a "contango" situation, where nearby contracts traded at a discount to those farther out. Yet even as declining rigs and inventories support the price, an extension of the OPEC-led deal beyond March will be required to rebalance the global market, according to BP Plc.

The impact of the output curbs initially received significant challenge from the rising U.S. shale oil output.

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