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 Iowa trip will be the first test of whether O'Rourke can convert the enthusiasm he built in Texas to the national stage. O'Rourke, whose given name is Robert Francis, acquired his nickname while growing up in El Paso, Texas.
And as it turns out, Samsung itself got the message and is now working on more updates that would improve the fingerprint sensor. Apparently not as Samsung is now working to remove it by completely hiding front-facing cameras behind the display.
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".
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.
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.
The actress confirmed the news that she's dating Senator Cory Booker on Thursday, all smiles while walking through the airport. Questioned whether she would make a "nice first lady", he replied, "Yes, she would".
For what it's worth, I was able to get this going without issue on my OnePlus 6T with my Steam library hosted on my Windows 10 PC. Obviously, you'll also need either the physical Steam Link that was discontinued past year or the Steam Link app .
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.
Another lawyer for Huong urged Malaysia's attorney-general to explain why he dropped the case against Aisyah but not Huong. He said he believes his daughter is innocent and told her to "stay calm and hope for the best outcome".
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.
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).
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.