Desert gold Saudi Aramco’s Ras Tanura oil refinery and oil terminal in Saudi Arabia
15 March, 2019, 16:07
Brent crude futures LCOc1 were at $66.82 per barrel, up 24 cents, or 0.4 percent. In February, US crude oil exports hit an all-time high, with shipments amounting to over 3.6 million barrels a day.
Both benchmark crudes have climbed for three straight days and are near four-month highs.
Brian Hook, the State Department's special representative on Iran, said in remarks at the CERAWeek energy conference that due to a global oil surplus - in part due to record US production - the United States is accelerating its plan of bringing Iranian crude exports to zero.
Meanwhile, EIA forecast Brent spot prices will average 63 dollars a barrel in 2019 and 62 dollars a barrel in 2020, compared with an average of 71 dollars a barrel in 2018.
USA crude oil production also dipped, falling by 100,000 barrels per day (bpd) to 12 million bpd. The EIA posts its weekly statistics at 1430 GMT.
"Ongoing trade disputes between major powers and a disorderly Brexit could lead to a reduction in the rate of growth of global trade and oil demand", the IEA said in its medium-term oil-market report, which covers the period to 2024.
The so-called OPEC+ alliance, including Russian Federation and other producers, agreed in December to reduce supply by 1.2 million bpd from 1 January for six months, which will help to boost oil prices after last year's downward trend.
Falih said on Sunday that OPEC's production-curbing agreement likely would last until at least June. Saudi Arabia, the world's top oil exporter, indicated on Monday that it would cut April exports.
Offsetting OPEC efforts to prop up prices and the impact of disruptions like Venezuela is a surge in USA oil supply.
Exports from Venezuela's main oil terminal have been stranded as its worst blackout on record has left parts of the country without power for roughly a week.
Saudi Arabia will supply its clients with significantly less oil than they requested in April, extending deeper-than-agreed production cuts into a second month, Bloomberg quoted a Saudi official familiar with the policy as saying.
"The United States is increasingly leading the expansion in global oil supplies, with significant growth also seen among other non-OPEC producers, including Brazil, Norway, and new producer Guyana", the IEA said in its five-year outlook.
The NBA sent out a memo to all 30 teams asking them to create PSA's addressing the need for civility during games. Keisel told Salt Lake City television station KSL that he told Westbrook to "sit down and ice your knees, bro".
A spokesperson for the Met said: "Police were called by the London Ambulance Service at 12.52pm to a residential address in SW5". Louis has cancelled his appearance on tonight's Comic Relief following the tragedy.
They have gone through the proceedings and the charge was being withdrawn, so this is being done according to the law. Kim Jong Nam had fled North Korea shortly after his brother, Kim Jong Un , took over after their father's death.
The rover will be designed in such a way to allow astronauts to live in to without having to wear any spacesuits on. Participants in the mission include United States space agency NASA and the European Space Agency.
Real will hope to earn €100m by selling Kovacic and James, while Odegaard has been recently linked with a €20m move to Ajax . Yet Rodriguez's recent performances haven't been great and now it appears their desire to sign him on a deal has cooled.
Open in June, The Open Championship in July and then the FedEx Cup Playoffs in August. "Expectation's a tricky thing". Under the new format, we've got The Masters next month, the PGA Championship in its new May slot, the U.S.
The United States had withdrawn most of the diplomatic staff from the embassy five weeks ago, leaving a core group behind. The Venezuelan government disputed Pompeo's account, saying it had instructed the US diplomats to leave.
Conor McGregor phone-smashing saga takes new twist
McGregor was arrested the evening of the alleged incident and taken to the Turner Guilford Knight Correctional Center. He alleges that Conor "tricked" him by going in for a handshake, only to grab his phone and smash it to the ground.
Trump slams handling of Brexit by UK's May
Varadkar said Ireland isn't the only place where this is possible, but "every country where freedom and liberty are cherished". Varadkar was returning to the White House for an evening reception and the presentation of a bowl of shamrocks to Trump.
I will be in the postseason again, vows LeBron James
As one of the best teams in the Eastern Conference, the results of the game will likely look a lot different on Thursday night. JJ Redick scored 17 points for the Sixers, who were without Jimmy Butler as he was held out for a planned rest day.
Both sides of the aisle slam Wells Fargo
Tim Sloan, president and chief executive of Wells Fargo , arrives for a House Financial Services Committee hearing on Tuesday. The bank has paid billions of dollars in fines to regulators for consumer abuses in virtually every part of its business.
Singapore Leads Asia In Quality Of Living, Personal Safety
European cities maintained a generally high position in the list, with Vienna, Zurich and Munich in the top three places globally. Conversely, Bangui (230) scored the lowest for the continent and also ranked lowest for personal safety (230).
Wilder To Meet With DAZN
I think this is a route that is going to be very beneficial to making that undisputed fight. "They've got their work cut out". It has not been discussed what effect Wilder's potential relationship with DAZN could have on the chances for a rematch.
Netflix confirms Madeleine McCann documentary date
Madeleine McCann is still alive and being held captive by child traffickers claims a controversial new Netflix documentary. Netflix's Standard plan is available for £7.99 a month and means programmes can be streamed on two screens at once.