Unipec said that it expects to trade up to 300,000 barrels per day (bpd) of United States crude oil by the end of the year, about triple its trading volume of USA oil last year.
Meanwhile, stockpiles of gasoline and distillates, which include diesel and heating oil, rose more than expected. OPEC+ countries will increase production by 1 million barrels per day, of which 200,000 bpd will be provided by Russian Federation.
Exports to Asia fell to 1.76 million b/d in July from 1.85 million b/d in June as demand from South Korea and Taiwan dissipated as the former turned to other countries for condensates.
The increased purchase of United States oil companies has come ahead of re-imposition of economic sanctions against Iran - India's second-biggest supplier of oil. A second round is scheduled to begin in November.
"The impact of it is the greatest known unknown of the year".
Crude oil prices extended gains Tuesday as the Trump administration's sanctions against Tehran kicked in, setting the stage for a drop-off in production from the world's fifth-largest producer.
Looking ahead to 2020-21, Della Vigna anxious that the impacts of the slowing pace of new projects will start to be felt, and USA shale will begin to decline; however, he said now is a flawless opportunity for "big oil" firms to negotiate better tax terms with governments and "do more activity - that doesn't necessarily mean more money".
Over 100 rockets fired into Israel from Gaza
A video has been circulating on social media that captures the terror that Israelis endure when Hamas launches rockets at them. In another round of escalation, Israel responded to rocket fire by striking what it says are Hamas militant targets in Gaza .
Total estimated export volumes on Aframaxes, Suezmaxes and VLCCs from Iranian ports in July fell by 7% to 2.32 million b/d from 2.49 million b/d in June, according to data from S&P Global Platts trade flow software cFlow. Following the announcement by EIA, the WTI lost 2.78 percent to 67.25 USA dollars, while Brent decreased 2.55 percent to 72.75 dollars. WTI settled at $69.17 on Tuesday and opened at $69.11 Wednesday morning.
Futures for September delivery lost 2.9 per cent to CNY 521.9 a barrel on the Shanghai International Energy Exchange.
Oil held a gain near $69 a barrel as USA crude inventories are seen declining. Distillate product supplied averaged 4 million barrels a day for the past four weeks, up by about 100,000 compared with the prior week.
Refinery crude runs rose by 118,000 barrels per day, EIA data showed.
Going forward, China's gas demand is projected by the IEA to rise by 60 percent between 2017 and 2023 to 376 billion cubic meters (bcm), including a spike in its LNG imports to 93 bcm by 2023 from 51 bcm a year ago. The U.S., for its part, has not posted a GDP growth rate above 5.12 percent since 2006.
Here is a look at how share prices for two blue-chip stocks and two exchange-traded funds reacted to this latest report. Over the past 12 months, Exxon stock has traded up about 0.8%.
Brent's April to May trading range is $65.29 to $79.37.
Preventing England FIFA World Cup star defender Harry Maguire joining Manchester United was a triumph for Leicester . Liverpool don't get a trophy for it, but they are certainly the champions of the off-season/preseason.
In spite of Mourinho telling the press that all is well between them, these recent rumours have proved otherwise. According to the Times, the relationship between the pair has soured even further over the summer.
It's important to note that some of the alleged bank fraud did occur while Manafort was running the Trump campaign. Manafort's request", he lied to Manafort's accountants about Manafort's control over certain foreign accounts.
According to the statement from an anonymous source CTV News Toronto that Ford is going to announce on Tuesday, August 7th. Ontario Premier Doug Ford announced a return to "buck-a-beer" in the province this week.
Kudlow cited state subsidies and forced technology transfers as behaviours that the Trump administration wants China to end. After earlier action against $34 billion of USA goods, that left about $120 billion for retaliation.
That shows how much time you spend on your phone every day, and how often you check it - glancing at notifications, for instance. The update is rolling out over the air, so if you've got a Pixel, Pixel XL , Pixel 2 , or Pixel 2 XL , keep an eye out for it.
While the Galaxy Note 9 may look similar to last year's Galaxy Note 8 , it's gotten several notable updates over its predecessor. Power users will appreciate the bigger battery and larger storage options which isn't available previously in Malaysia.
Thibaut Courtois has gone AWOL from training as the goalkeeper attempts to force an exit from Chelsea this summer, reports say. The Chelsea head coach has admitted the pair did not speak about Hazard's future, despite ongoing links with Real Madrid .
In a nod to the OH economy, Trump said yesterday on Twitter that tariffs "have had a tremendous impact on our Steel Industry ". The deficit climbed $3 billion to $46.3 billion in June from $43.2 billion in May, the Commerce Department reported Friday .
It's hard to tell who instigated the violence, but it appears to be the workers at the nail salon who are dealing the most force. An investigation into the brawl is ongoing, and more charges could result , the Brooklyn District Attorney's Office told News12.
Tottenham have pulled out of the race for Wilfried Zaha after Crystal Palace demanded £75million for the winger. The Chelsea power brokers will decide whether or not to pursue an 11th-hour move for Zaha.
11 children, 3 women found in 'filthy' compound, 2 men arrested
On Friday, eight members of the Sheriff's office raided the compound and discovered the children, who were dressed in dirty rags. Wahhaj and Morten, both from Georgia, were arrested and charged with child abduction and harboring a fugitive, respectively.
Liverpool finish pre-season by beating Torino
Former England global Redknapp is impressed with Klopp's transfer business ahead of the new Premier League season. Fabinho , who had scored 16 in a row from the spot for AS Monaco, sent the penalty several yards wide.
Bayelsa DSS director appointed acting DG
The lawmaker made the allegation in an interview with Thisday on Tuesday at the lobby of the National Assembly in Abuja. He left the Villa at about 5:05 p.m. surrounded by security personnel attached to the presidential Villa.
Chicago suffers deadly wave of gun violence
Johnson said that both murders and shootings are down on the year, but said this weekend showed there was still a lot to do. Eight of the shootings during that period had three or more victims.
Conor McGregor to Fight in UFC 229 on October 6
For the record, GSP is leaning towards the undefeated Dagestani to keep his pristine record intact against McGregor. At that stage, he didn't feel like a win over "the Notorious" would improve his resume that much.
Cleveland Browns trade WR Corey Coleman to Buffalo Bills
The full details of the Cleveland Browns-Buffalo Bills' trade for former first-round pick Corey Coleman have been released. To this point in his career, the 15th overall pick of the 2016 NFL Draft has failed to live up to his draft hype.
Pacific Union agents killed in Santa Ana plane crash
Luckily, the driver of the parked auto was shopping inside the store when the plane descended on his vehicle, the spokesman said. Another witness told local news media that he was coming out of a sushi restaurant when he saw the plane flying low.
Pompeo says Iran sanctions will be enforced
Central bank governor Abdolnaser Hemmati said the plan reflected Iran's self-confidence in the face of the looming USA sanctions. USA officials last week said Iran carried out a similar exercise, though Tehran did not immediately acknowledge it.