Wednesday, 20 February, 2019


OPEC's Oil Exports to US Fall to Five-Year Low in January

OPEC's oil exports to US fell to five-year low in January Oil Edges Up As Market Eyes Tighter Supply | NTA.ng - Breaking News, Nigeria, Africa, Worldwide
Conrad Doyle | 07 February, 2019, 15:22

Morse predicted that moving forward "We have plenty of potentially bullish moves in the market" following a period of soft demand before the seasonal fuel consumption rise begins around May, with Brent rising into the mid-$60 range and hitting $70 before year end - which the researcher believes will encourage USA producers to allocate more money to drilling.

The Energy Information Administration reported Wednesday that domestic crude supplies rose by 1.3 million barrels for the week ended February 1.

Oil fell 1 percent on Wednesday after a report showed a rise in USA crude inventories, while concerns about the impact of us sanctions on Venezuela on global supplies eased.

National Security Adviser John Bolton and Treasury Secretary Steven Mnuchin announce sanctions against Venezuela state-owned oil company PDVSA and embattled president Nicolas Maduro.

"The fact that USA crude oil and gasoline stocks rose more sharply than expected, as reported by the API after close of trading yesterday, is weighing on prices", said Carsten Fritsch, analyst at Commerzbank.

"It would seem that the market is really not too anxious yet about the potential loss of Venezuelan barrels", said analysts at JBC Energy in a report.

The sanctions will sharply limit oil transactions between Venezuela and other countries and are similar to but slightly less extensive than those imposed on Iran previous year, experts said on Friday after looking at details posted by the Treasury Department. -China trade dispute. Oil prices fell on Tuesday after a survey showed euro zone business expansion almost stalled in January.

U.S. President Donald Trump said in his State of the Union address that a trade deal with China was possible.

Countering the rising US crude output and inventories are voluntary supply cuts led by the Organization of the Petroleum Exporting Countries (OPEC) aimed at tightening the market and propping up prices.

Traders are still anxious about the global economic slowdown especially because of the uncertainty surrounding the U.S.

"The market will struggle to compare disappointing API Inventory numbers against reports of a decrease in Venezuelan output, OPEC cuts, and weak economic data".

The producers known as OPEC+ started cutting production by 1.2 million barrels per day (bpd) from last month to avert a new supply glut, and OPEC has delivered nearly three-quarters of its pledged cuts already, a Reuters survey showed last week. Elsewhere, supplies from OPEC face heightened uncertainty after Libya's eastern leader Khalifa Haftar said his forces have taken control of the country's largest oil field. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. It is not a solicitation to make any exchange in commodities, securities or other financial instruments.

Recommended

loading...
...
  • LeBron James distances himself from teammates

    LeBron James distances himself from teammates

    Ingram tallied 12 points on four-of-eight shooting in the game. "I know it has to be tough, especially on our young guys". With James' return, the Lakers are looking to make significant additions for a late-season push.
    Stunning Tim Seifert leads Black Caps to massive Twenty20 win over India

    Stunning Tim Seifert leads Black Caps to massive Twenty20 win over India

    India who played terrific cricket in the ODI series was shocked in the fourth ODI when they were bowled out for just 92 runs. The Black Caps edged the sub-continental side 1-0 in a two-match away series in 2012 before losing 1-2 in India in 2017-18.
    Lady Gaga & Bradley Cooper To Perform 'Shallow' At 2019 Oscars

    Lady Gaga & Bradley Cooper To Perform 'Shallow' At 2019 Oscars

    They did an about-face on the last one, apparently thanks to Lady Gaga , who is nominated for Best Actress and Best Original Song. We all remember reading about that impromptu (and amazing) performance by Lady Gaga and Bradley Cooper not very long ago.
  • Actress Jennifer Lawrence is engaged to art gallery director

    While we've never met her personally we feel that in some kind of alternate universe, we'd be good pals with Jennifer Lawrence . Sources tell Page Six the couple is betrothed, and that Lawrence has been sharing the happy news with her inner circle.
    State of the Union Excerpts: Donald Trump Reminds Congress How He Won

    State of the Union Excerpts: Donald Trump Reminds Congress How He Won

    The government shut down for more than a month over Trump's demands for $5.7 billion for his promised border wall with Mexico. President Trump's second State of the Union address was postponed one week due to the partial government shutdown.
    Google Chrome can now tell you if your passwords were hacked

    Google Chrome can now tell you if your passwords were hacked

    Google has mentioned that this extension never reports any identifying information about your accounts, passwords, or device. You'll be alerted that your login credentials have been leaked in the past and prompted to change your password .
  • Harrison Barnes heads to the Kings for Justin Jackson

    Harrison Barnes heads to the Kings for Justin Jackson

    In exchange for Barnes, the Mavericks welcomed Jackson, 23, and Randolph, 37, who has not played this season. It just so happened that during the game, the trade got agreed upon.
    Girona vs. Real Madrid - Football Match Report

    Girona vs. Real Madrid - Football Match Report

    And the two heavyweights will now go head to head in the last four in a bid to earn a place in May's final in Seville. Meanwhile, Los Blancos reached the last four, after securing an emphatic 7-3 aggregate victory over Girona.
    Washington Wizards' John Wall out for season for ruptured Achilles tendon surgery

    Washington Wizards' John Wall out for season for ruptured Achilles tendon surgery

    The five-time All-Star will undergo surgery to fix a ruptured left Achilles tendon, the Wizards announced Tuesday. The 28-year-old elected to have a season-ending surgery in December with hopes of avoiding any additional damage.
  • Women's brains are four years younger than men's on average

    Women's brains are four years younger than men's on average

    For the study , researchers analyzed head scans of 205 cognitively normal adults between the ages of 20 and 82. What this means is that men's brains do not age faster, they simply have a bit older brains, to begin with.
    Modern Family renewed for 11th and final season

    Modern Family renewed for 11th and final season

    He told The Hollywood Reporter in October: 'I thought season 10 was going to be it. If we were to do it, season 11 would be it, for sure.
    Facebook Messenger finally lets you delete texts for real

    Facebook Messenger finally lets you delete texts for real

    This means if you accidentally (or drunkenly) send a regrettable message to someone, you can delete without them seeing it. TL;DR Facebook is releasing a feature through which users can delete messages sent through Messenger .

Cricket Betting Tips and Match Prediction- New Zealand v India 1st T20 Cricket Betting Tips and Match Prediction- New Zealand v India 1st T20 In addition, the second ranked India haven't lost a bilateral T20 series since September 2017. The defeat was India's worst in terms of runs in a T20I.

Nantes demand Emiliano Sala payment from Cardiff City Nantes demand Emiliano Sala payment from Cardiff City Authorities searching for Sala found a body in the wreckage of the plane , air accident investigators confirmed on Monday. Cardiff will honour the deal but not until they have clarified " all the facts ".

Pentagon resists United States withdrawal from Syria, claims ISIS might rise again Pentagon resists United States  withdrawal from Syria, claims ISIS might rise again A US-led coalition provided crucial air support as Iraqi forces regrouped and drove ISIL out in a costly three-year campaign. Former Iraqi Prime Minister Haider Al-Abadi tweeted in English on Monday that "Iraqi sovereignty must be respected".

Darren Weir will plead guilty to charges Darren Weir will plead guilty to charges Both trainers spent around 11 hours in a closed show cause hearing on Monday before RV issued a statement detailing the findings.

China tariff hike could push downturn, trade shifts:The Asahi Shimbun China tariff hike could push downturn, trade shifts:The Asahi Shimbun The US tariffs are aimed at providing protection to US firms from Chinese competitors who can often produce goods more cheaply. The tech industry has been closely tracking the escalating tariffs imposed by the USA and China on one another.

Ariana Grande not Performing at or Attending the Grammys after Disagreement Ariana Grande not Performing at or Attending the Grammys after Disagreement The insider claimed that the "stipulations" imposed on Grande were not imposed on any other performer. However, she pulled out altogether when they said she couldn't choose the second song.

Knicks say Kristaps Porzingis did not want to be part of team Knicks say Kristaps Porzingis did not want to be part of team NY general manager Scott Perry said the Knicks would get an unprotected pick in 2021 and the other pick would be in 2023. MacMahon further reported that it wouldn't affect the Mavericks' attempts to sign Porzingis to a long-term deal.

'Special place in hell' for Brexiteers, says Donald Tusk 'Special place in hell' for Brexiteers, says Donald Tusk Brexit campaigner Nigel Farage reacts during a plenary session of the EU Parliament in Brussels, Belgium January 30, 2019.

76ers acquire Tobias Harris in blockbuster with Clippers 76ers acquire Tobias Harris in blockbuster with Clippers One thing is for certain, though, with the move, the team appears poised to take the next step in the Eastern Conference. However, according to Wojnarowski, the plan is to re-sign him to a long term deal at the conclusion of the season.

Man Dead After E-Cigarette Explodes In His Face Man Dead After E-Cigarette Explodes In His Face It also advises against using a tablet or phone charger with the device, and to avoid charging it overnight. He was informed by the manager that the store did not sell that brand, because it was known to have issues.

Pope Francis admits nuns have been sexually abused by clergy Pope Francis admits nuns have been sexually abused by clergy Past year in a statement from the Vatican, the Holy See spokesman said to victims of child abuse "the pope is on their side". Pope Francis receives a gift from a journalist during his flight from Abu Dhabi to Rome, Tuesday, Feb. 5, 2019.

Some Cancers Are Rising in Young People. Scientists Think They Know Why Some Cancers Are Rising in Young People. Scientists Think They Know Why The younger the age bracket, the more quickly these cancers gained ground, they reported in The Lancet , the medical journal. Of course, obesity is only one factor - the environment, genetics and other issues also play roles, the BBC points out.

Kate Middleton Channels Jackie Kennedy in Bright Green Shift Dress Kate Middleton Channels Jackie Kennedy in Bright Green Shift Dress The Duchess of Cambridge is greeted by delighted primary school pupils at Lavender Primary School. And we like playing outside together and spending lots of time together as a family.

Jennifer Lawrence engaged to art gallery director - United States media The couple were first romantically linked in June 2018, when the pair were pictured together on a number of occasions. Lawrence's representative has confirmed to media that the actress and her partner Cooke Maroney are engaged .

Trump will meet with Kim Jong Un at end of February Trump will meet with Kim Jong Un at end of February A variety of Iraqi lawmakers used Trump's visit to the al-Asad base in December to call on US forces to leave the country. Trump also tasked the Pentagon late a year ago to start making plans for cutting the US force in Afghanistan in half.