IEA expects speedier oil market rebalancing in H2 but 'much work remains'
22 Mai, 2017, 01:54 | Author: Marc Bacque
Kuwait's oil minister Essam al-Marzouq said today that his country supported the Saudi/Russian initiative.
"We believe the industry is more focused on robust activity at stable oil prices, rather than very high oil prices at this juncture, which is not sustainable over the long run", said its analyst Mabel Tan.
The EIA (U.S. Energy Information Administration) estimates that Iraq's crude oil production fell by 5,000 bpd (barrels per day) to 4.4 MMbpd (million barrels per day) in April 2017-compared to March 2017.
Venezuela is undergoing a wave of unrest with protesters angry at an economy in crisis, with food and medicine shortages and soaring inflation.
In the first quarter of 2017, "the oil market was nearly balanced", the International Energy Agency said in its latest monthly report.
The main reason why oil prices remain low is that supply outstrips demand. Saudi Arabian production in April average 9.97 million barrels per day, nearly 1 percent below its quota under the multilateral deal.
Supply and demand in the oil market are close to matching up, the IEA said today, but rising USA supply could mitigate landmark OPEC-led production cuts.
In February, US crude output increased again and "in line with stronger recent performance from the US shale sector we have revised upwards our expectation throughout 2017", it said. USA bank Goldman Sachs said the deal "will likely further extend the oil price rebound... although the rally so far... has remained modest compared to the move that occurred previous year when the OPEC cuts were first announced".
The world's oil stockpiles increased only slightly in the first quarter and are set to decline in the second as demand picks up seasonally and OPEC constrains output, the IEA said Tuesday in its monthly report. Crude oil prices moved below $50 per barrel in late April on signs the designed balance envisioned by production cuts was slow to materialize.
Elsewhere on Nymex, gasoline futures for June climbed 1.2 cents, or roughly 0.8%, to $1.606 a gallon, while June heating oil added 1.4 cents to $1.523 a gallon. At the same time, at a meeting of the OPEC countries and countries outside of the cartel in Vienna on May 24-25, Russian Federation is going to propose maintaining the current parameters of the agreement. Oil extended gains while stocks were mixed.
The move was made Thursday before the Marlins began a four-game series against the Dodgers, and was retroactive to Wednesday. What's important to note in this deal is that Facebook's streaming of these games isn't exclusive, but rather auxiliary.
Si Woo Kim of South Korea became the youngest victor of The Players Championship with a game and nerves well beyond his 21 years. These numbers are reminiscent of Russell Westbrook's horrifying fourth quarters against the Thunder, only with less scoring.
The front of Yedioth Ahronoth's weekend supplement, featuring Donald Trump's head on a fidget spinner, May 19, 2017. Ambassador Nikki Haley, senior adviser Stephen Bannon, and Ambassador to Israel David Friedman.
After talks with senior Saudi officials on Saturday, Trump was to give a speech to dozens of Muslim leaders on Sunday. The State Department said the agreement could support "tens of thousands of new jobs in the United States".
Under the ACA, insurers had to offer coverage to sick people at the same rate they offered to healthy people of the same age. In the end, the biggest wildcard is how many states would choose to accept the AHCA's waivers, the study concludes.
A fan shared a picture of Harry just sitting back in the crowd, in awe as he watched Stevie perform at his very own concert! During the latter, Styles even temporarily took a backseat, joining his audience to watch as Nicks sung.
Newsham said at a press conference following the incident: "That's not something that we will tolerate here in Washington, D.C. This isn't a third-world country, and this kind of thing can not go unresponded to diplomatically, and maybe in other ways".
Rosenstein said that though he was personally fond of Comey, "I thought it was appropriate to seek a new leader". Rubio asked. "There's no doubt that that's the questions that are going to get asked, and asked repeatedly".
Her father is now facing a health scare; a diagnosis of something quite serious would be enough reason to being her back home. It's not yet known the circumstances under which Carla will return, however there is already one potential plot opening.
Robert Mueller, who served as FBI chief under George W Bush, was appointed this week as special counsel for the investigation. This is based on reporting of a transcript of the meeting leaked to The New York Times .
Netflix CEO Reed Hastings hit back with a post on Facebook, saying: "The establishment [is] closing ranks against us". Some members of the worldwide press at Friday's screening booed the Netflix logo that preceded the film.
It said Moon told Abe that it was emotionally hard for South Koreans to accept the agreement. Both Moon and Xi agreed that denuclearising North Korea was a "common goal".
Gophers Fall to Alabama in Regional Semifinal
Junior second baseman Demi Turner made her full-time return after being injured when she was hit in the face by a ball on April 1. Whichever team moves on to Sunday to play Alabama would have to beat the Tide twice in order to advance to the super regional.
Trump calls on Muslims to share 'burden' in terror fight
Now it appears Muslim leaders are ready to take more responsibility and a much bigger role in fighting terrorism in their region. The Washington Post said the probe had reached into the White House to include a Trump adviser, who was not named.
Destiny 2: PS4 Pro "Couldn't Run" Game at 60fps
Bungie has revealed that the PS4 Pro is simply too weak to run their sequel at 60 FPS due to the lack of CPU power . Bungie last week announced that Destiny 2 will run at 30FPS on PlayStation 4, Xbox One and PlayStation 4 Pro.
Antonio Conte: 'John Terry should not retire'
Terry, who made his eight appearance this season, opened the scoring line against Watford on Monday, beating them 4-3. Chelsea host Sunderland on Sunday in their final league game of the season.