OPEC cuts forecast for global oil demand growth in 2019
OPEC cuts forecast for global oil demand growth in 2019
Oil extends losses as markets fall, inventories climb
12 October, 2018, 01:42
Oil prices slumped to two-week lows on Thursday as global stock markets fell, with investor sentiment made more bearish by an industry report showing US crude inventories rising more than expected.
An oil tanker unloads crude oil at a crude oil terminal in Zhoushan, Zhejiang province, China July 4, 2018.
Schork Report editor Stephen Schork discusses whether crude oil prices will reach $100 a barrel by the end of the year.
Stocks on major world markets slid to a three-month low on Wednesday, with the benchmark S&P500 stock index falling more than 3 percent, its biggest one-day decline since February.
Of the 220.4 million metric tonnes (million MT) of crude oil imported by India in 2017-18, about 9.4 per cent, was from Iran.
The WTI Crude Oil market rallied significantly during trading on Tuesday, breaking above the top of the hammer from the Monday session. Overall, I think short-term pullbacks offer buying opportunities and I think that the value hunters will continue to pick up crude oil every time it dips.
Crude inventories climbed by 9.7 million barrels in the week to October 5 to 410.7 million, compared with analyst expectations for an increase of 2.6 million barrels.
Refinery crude runs fell by 352,000 barrels per day, EIA data showed, while refinery utilization rates dropped by 1.6 percentage points.
OPEC cut its forecast for growth in non-OPEC oil supply in 2019 by 30,000 bpd to 2.12 million bpd.
"The demand side of the oil equation is always much more hard to discern than the more transparent supply side and as equities slide amidst rate increases, the oil market could begin to discount a worst case scenario with regard to oil demand expectations", Jim Ritterbusch, president of Ritterbusch and Associates, said in a note. The rapid increase in prices was more about perception of a supply shortage than real fundamentals, he said.
In the U.S. Gulf of Mexico, producers have cut daily oil production by roughly 42 percent due to the storm, the Bureau of Safety and Environmental Enforcement said. The US has asked buyers of Iranian oil to cut imports to zero starting in November.
Michael crashed ashore Florida on Wednesday as the third most powerful hurricane ever to strike the USA mainland.
The participants were asked to report their mental health status, stress, anxiety, depression and mood changes over 30 days. He says that before their study , there was no particular discussion of the impact of climate changes on the mental health.
This is why we are now at a high risk of power outages across much of Middle Georgia, including Macon and Warner Robins. Hurricane Michael continues to gain strength as it moves through the southern Gulf of Mexico.
According to a report in the Wall Street Journal last month, Apple has about 24 original shows in production and development. Well, that's one way to differentiate yourself in the crowded streaming video market.
The company displaced Acer as one of the top 5 makers this quarter, with a market share of 4.1%, reports Gartner. It says that shipments fell 0.9 percent last quarter, though that's still better than many expected.
The change in party affiliation comes after Bloomberg chose to spend millions in the 2018 election to help elect Democrats. Bloomberg posted a photo on Instagram along with an announcement that he has re-registered as a Democrat.
Chris was previously married to Avengers star, Gwyneth Paltrow , and they are parents to a daughter and son. Meanwhile, even though there's no baby on the way, Chris and Dakota are going strong after a year of dating.
Her party boycotted the 2014 election in which Hasina returned to power but is expected to contest the election due in December. Bangladesh's Law Minister Anisul Haque said the government will move a higher court to seek death penalty for Rahman too.
Facebook announced it is launching a new electronic device, titled Portal , which is meant to optimize video calls for users. Nonetheless, the company is pressing on with plans, and has announced two new devices-Portal and Portal + video calling.
Assassin's Creed Rebellion launches on November 21st, and we will update you all once we know what it actually is like to play. Your fortress also serves as a base of operations before taking teams of three Assassins into various infiltration missions.
The pair were said to have specifically targeted techies who were naturalized U.S. citizens born in China or Taiwan. The employee's talk included details about engines that were designed and produced by his company.
Razer shaves a bit off the price of a Razer Blade 15
Prices for the new entry model Blade 15 start at $1,599, and in North America and China it's available to order right now. The Mercury White Razer Blade will be available in the USA and Canada through Razer's website directly later this year.
Joel Embiid Signs Endorsement Deal With Under Armour
Although he showed up to Sixers training camp this season wearing Under Armour and said he was in negotiations with them. Embiid submitted his signed offer sheet on September 28 after the 76ers' annual media day session had concluded.
Kanye West Rambles Like Trump In White House Meeting
Thank you Kanye for your support. "It is making a big difference!" "I didn't even know whether he's going [to see] Trump. And there are a lot of people that are in a situation like that, and we are actively looking for those situations", Mr.
F-35 jets: US military grounds entire fleet
Mr DellaVedova added that if "known good" tubes are already in place, then those planes will be returned to operational status. All three services have stopped flying the F-35 while fuel tubes in the aircraft are inspected and replaced if necessary.