Oil falls as USA crude inventories jump unexpectedly
16 August, 2018, 17:18 | Author: Gerard Cortez
Analysts surveyed Monday by S&P Global Platts were looking for U.S. crude stocks to have fallen 1.7 million barrels in the week ended August 10, with refinery runs remaining high on healthy margins and strong export demand.
Analysts said the expansion of positions by participants was in line with a firming trend overseas, where oilprices rose after a report from OPEC confirmed that top exporter Saudi Arabia had cut production to avert looming oversupply.
OPEC expects that average oil production in Russian Federation will be 11.15mn barrels per day in 2018 and 11.17mn barrels daily in 2019.
OPEC production averaged 32.32 million barrels per day (bpd) in July, 40,700 higher than June, according to the group's monthly oil market report, based on secondary source figures. Saudi Arabia's July production fell to 10.387 million barrels a day, a month-over-month decrease of about 53,000. Even with the July cutback, Saudi Arabia's output remains higher than the 2017 yearly average and higher than either the first or second quarter average this year.
Saudi Arabiacutting its oil production in July and the prospect of continued strength in the US dollar may not seem to have anything in common; but both are yet more indicators that crude prices will likely continue to drop in the foreseeable future, according to the experts.
In addition, OPEC reduced its projection for global oil demand growth for this year by 20,000 to 1.64 million bpd, while lowering the forecast for the next year by 20,000 to 1.43 million bpd.
Inter-Korean construction workers' game in Seoul is seen as a way to improve cooperation between the two countries. Critics of the agreement argued the Trump administration failed to get Kim to agree to specific action.
Asked if the conditions had favoured the opposition, Kohli said, "We can't really think about those things". Chris Woakes was named the "Man of The Match" for his "outstanding" performance with both the bat and ball.
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But due to Mourinho's lack of options Pogba was asked if he could play - and as you would expect, he said yes. Pogba scored for France in July's World Cup final and will hope to transfer his worldwide success to United.
Meanwhile, authorities largely stood by on the fringes of the action near a downtown park with a statue of Confederate Gen. Ralph Northam and the city of Charlottesville declared states of emergency ahead of this weekend's anniversary.
Malta said on Saturday it would not welcome the ship while Spain said its ports were not the safest destination for the vessel. "At this point, the United Kingdom should assume its responsibility to safeguard the castaways", Mr Toninelli said .
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Sussex weather as Perseid meteor shower reaches it peak
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Argentina's senate rejects abortion bill
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