Oil prices are rallying after trading around seven-month lows overnight amid concerns the Organisation of the Petroleum Exporting Countries' (Opec) output cuts are not doing enough to curb the global oversupply.
Oil inventories across the world's most industrial nationsrose in April by 18.6 million barrels to 3.045 billion barrels, thanks to higher refinery output and imports.
On Thursday, oil prices hit six-month lows.
"The rebalancing of the market is underway, but at a slower pace", the report said, acknowledging it will take more time to tighten the supply-demand balance. High stockpiles have weighed on crude prices.
The effectiveness of the OPEC-led cuts has been undermined by increasing United States oil production, mostly from shale drillers.
Futures were little changed in NY after slumping 3.7 percent Wednesday, the first drop in four sessions.
US crude production has been steadily growing and last week rose to 9.33 million bpd, up 12,000 from the previous week, the EIA said.
Confederations Cup: Mexico frustrate Portugal
And on the video referral system ( Portugal had a goal ruled out for offside by the video assistant referee): "It's the new rule". Video replays were again consulted, but no change was made to the initial decision to award the goal.
According to the EIA, a slight tightening in production during quarter three of this year is forecast to lead to 32.5 million barrels per day by the end of the first quarter of 2018.
The EIA released its monthly report on drilling activity Monday showing that oil production from seven major USA shale plays is projected to rise by 127,000 barrels a day to 5.475 million barrels a day in July from June.
BP analysts said that production outside the Middle East fell by 1.3 Mb/d, with the largest declines in the USA (-400,000 b/d), China (-310,000 b/d) and Nigeria (-280,000 b/d). Gasoline inventories rose by 2.1 million barrels.
Rising U.S. oil output, particularly from shale drillers, is contributing to the ineffectiveness of the OPEC-led cuts. The EIA expects that to rise above 10 million bpd in 2018.
It said the International Energy Agency has recently published a forecast, stating that the global refinery is expected to go up by 2.7 million barrels per day (bpd) between July and August with refineries processing nearly 82 million bpd for the same period.
The US government's Energy Information Administration has raised its prediction for domestic output growth in 2017 to 460,000 barrels per day from a predicted decline of 80,000 barrels per day in December.
The 32 year old is said to have "pleaded" with agent Jorge Mendes to seal the deal - which would see him return to Mancunian soil. On Monday, newly re-elected Real president Florentino Perez defended his star player amid the accusations.
President Trump's new measures are designed specifically to restrict money to the Cuban military and intelligence services. Trump's changes would not go into effect until specific new regulations are written and put in place.
The cause then was the US missile strikes on Syria in response to Assad's deadly chemical attack in the country's Idlib province. Moscow has condemned the USA downing of the Syrian government fighter jet after it dropped bombs nears US partner forces.
It was sweet redemption for the Marlins, who lost on walk-off hits by Atlanta's Brandon Phillips on Saturday and again Sunday. Washington's Tanner Roark squandered a 6-0 lead by giving up six runs in the third and failed to make it through the inning.
But when we can't, we go for a guy we can throw the ball to at any stage in order to try to make an impact in the game. If we're truly going to be contenders for this tournament, we need to beat the best teams.
Department of Energy's Cray XK7 has been beaten by a machine from Switzerland, pushing the United States to number four. The supercomputer Piz Daint is named after a peak in the Grison region of Switzerland.
Following the transaction, the director now directly owns 21,887 shares in the company, valued at approximately $1,879,874.43. The pharmacy operator reported $1.36 earnings per share for the quarter, hitting the consensus estimate of $1.36.
Apart from Khattar, the state's Agriculture Minister Om Parkash Dhankar also congratulated Kovind, an official release said here. On Saturday, Swaraj had dismissed reports that she was a contender in the presidential poll as "rumours".
Beaucoup de fonctions différentes sont concernées par cette mise à jour , des chaînes à la gestion des manettes. En effet, sans crier gare, Big N vient de mettre en ligne une nouvelle version de l'OS de la machine.
Officiel : Guingamp tient le remplaçant de Marçal
Marçal parti rejoindre Lyon via le Benfica Lisbonne, Guingamp a déjà trouvé son nouvel arrière gauche. Il est actuellement en Pologne avec l'équipe nationale Espoirs du Portugal où il dispute l'Euro.
Woman flips out after mistaking rattlesnake for dog toy
Knowing that Carla wasn't bit, is it okay to laugh? "Definitely I'm going to be walking around with a flashlight", Carla said. - A California woman is spooked, but okay after accidentally picking up a rattlesnake that she thought was a dog toy.
Wisconsin AG 'thrilled' high court to hear case
Both sides asked the court to expedite its decision, as the school districts need to know by August 4 what their budgets are. The Supreme Court split 5-4 on Monday in ordering that work to be halted while the high court considers the Wisconsin case.
Sir Vince Cable confirms Liberal Democrat leadership bid
Announcing his candidacy on the Lib Dem Voice website , the 74-year old said "liberal values" were needed more than ever. Sir Vince added: "There is a big space in British politics which I am determined that we should occupy".
L'agresseur présumé de NKM nie toute violence physique
Le maire de Champignolles , dans l'Eure, est l'auteur présumé de l'agression de NKM sur un maché à Paris le jeudi 15 juin . FAITS DIVERS Le maire de Champignolles nie tout contact physique et avoir bousculé la candidate LR.
Cristiano Ronaldo to testify in tax fraud case
Prosecutors allege he knowingly used a business structure which hid income from his image rights between 2011 and 2014. IBTimes UK earlier revealed that Ronaldo wants to leave Real and he has already informed the club of his decision.