Oil prices fall on rising U.S. output
"The general perception is that OPEC is cutting production, which is supporting prices, but high stock levels, rising rig counts and growing US production are capping gains", said Tamas Varga, analyst at London brokerage PVM Oil Associates. Oil fell in NY after the biggest drop in more than two weeks, on estimates that crude stockpiles continued to build up in the US.
Baku, Fineko/abc.az. The world prices for oil, which made a pandemonium yesterday, nevertheless keep the profitable market trends for the USA oil industry.
Gasoline futures for March delivery dropped 1.5 per cent to $US1.4875 a gallon, the lowest close since November 29.
Olivier Jakob, managing director of Switzerland-based consultant Petromatrix, said in an emailed report that US oil production was poised for growth and Canada is back to where it was before Alberta wildfires in May idled about 1 million barrels per day in production.
Ten OPEC members obligated to reduce oil output under the agreement signed in 2016, achieved 91 percent of their required cuts in January, according to the S&P Global Platts survey.
Will Campaign for SP-Cong Alliance, Akhilesh Will Be CM: Mulayam
The Chief Minister in his meetings introduced SP candidates as representatives of the SP- Congress alliance and canvassed for support.
"Rig counts are increasing at an accelerating pace, and given the technological advances of the past three years, this should translate into significant supply", Wittner told Reuters.
Crude inventories at Cushing, Oklahoma, the delivery point for WTI and the biggest U.S. oil-storage hub, increased by 600,000 barrels last week, according to a forecast compiled by Bloomberg.
US crude futures fell 87 cents, or 1.64%, to $52.14 a barrel on the New York Mercantile Exchange. Brent crude was down 66 cents or 1.18 percent to US$54.82.
The British oil and gas company, whose fourth quarter profits fell short of street expectations, had previously targeted a breakeven oil price of $50-55 a barrel. The global benchmark traded at a premium of US$2.08 to April WTI.
"Traders are betting on prices going up but they are impatient", said Amrita Sen, the chief oil analyst at Energy Aspects.
Avalanches in Afghanistan kill at least 54
In Afghanistan almost 100 died in the past three days - including 16 in overnight avalanches just north of the capital Kabul . Authorities said they expect the death toll to quickly escalate as numerous worst-hit areas have yet to be reached.
AFCON 2017: Burkina Faso claims third place as Ghanaian misery endures
They have been very clinical: when they did venture forward against Uganda, Morocco and Burkina Faso , they scored. That goal was the first conceded by El Hadary in 653 minutes at the Cup of Nations since 2010.
Romanians dig in over corruption standoff
In recent years, Romania has been touted as a regional leader for targeting the rich and the powerful in a crackdown on corruption .
Navy: Special forces flew Trump flag in convoy
Maxwell said the unit's commanding officer would decide what punishment is warranted if anybody is found guilty of wrongdoing. Special Operations Command, which is responsible for overseeing and conducting special operations and secret missions.
USA warns North Korea on nuclear response
The two sides reconfirmed that commitment on Friday. "We want to be on the same page with the new Trump administration". Donald Trump vowed to stop the North Koreans building a nuclear weapon capable of reaching the U.S. last month.
Bank of England raises growth forecasts in face of Brexit
The growth upgrades are due to a "relaxed United Kingdom fiscal stance" and " momentum in the global economy ", said the BOE. After annual growth of 2% in 2016, he sees the economy slowing to 1.4% in 2017.
Snap Move On AR Advertising Ahead Of IPO
The public offering will officially make Snap's cofounder and CEO Evan Spiegel , 26, one of the world's youngest billionaires. We believe that reinventing the camera represents our greatest opportunity to improve the way people live and communicate.
Trump Administration Pushes For Dakota Access Pipeline To Move Forward03:38
It's complete except for a stretch under Lake Oahe in southern North Dakota. According to Hoeven's statement, the easement will be issued.
State Sets Up Hotline For Detained Foreign Travelers
This poll was conducted January 22-26, 2017 by telephone calls conducted in English to 812 NY state registered voters. Wade , I want them to know today: If that's what they do, we're going to protect Roe v.
Durbin not ruling out filibuster of Trump Supreme Court nominee
When Sessions left for the United States Senate, Pryor took over, making him one of the youngest attorneys general in history. During their year without a ninth justice, the court continued to work, with some cases affected by Scalia's death.
Feb 07 2017