United Arab Emirates Minister for Energy Suhail al-Mazroui said Monday he expects OPEC and non-OPEC countries to extend global supply cuts at a November 30 meeting in Vienna.
Oil prices held largely steady on Tuesday as the prospect of further rises in US output offset some of the optimism that OPEC-led production cuts would tighten the balance between crude supply and demand.
In a monthly report, the Paris-based agency cut its oil demand forecast by 100,000 bpd for this year and next, to an estimated 1.5 million bpd in 2017 and 1.3 million bpd in 2018.
In May, Opec producers agreed to extend production cuts for a period of nine months until March, but stuck to production cuts of 1.2 million bpd agreed in November previous year.
The exporters reached the deal last December and have already extended the agreement through March 2018.
Reuters reported last month, citing OPEC sources, that producers were leaning towards prolonging the agreement until the end of 2018, though the decision could be postponed until early next year depending on the market. The group is expected to agree an extension of the cuts beyond their current expiry date in March 2018. This is expected to cut 2.5 million bpd, or about 2 percent, off global oil demand by that time.
Shock news from the Queen as Charles steps into her place
The nation paid silent respect to those killed in the country's wars in a Remembrance Sunday service led by the Prince of Wales. A special tribute was held in honour of former Forces' Sweetheart Dame Vera Lynn, who celebrated her 100th birthday this year.
Meanwhile, with $2.39 rise from its preceding week, Organization of Petroleum Exporting Countries (OPEC)'s basket price stood at $58.73 per barrel in the said week.
So far in 2017, Brent has averaged at $54.5 per barrel.
Investors were confident that OPEC's output curbs would continue to support upside momentum in crude oil prices ahead of the upcoming Nov, 30 Opec meeting.
Middle East tensions grew over the weekend, fueling expectations of supply disruptions in the region after Bahrain said Iran was behind an explosion to its main oil pipeline.
The price of Iran's light crude oil in the week ended on November 3 rose $2.59 to stand at $60.04 per barrel, IRIB reported on Sunday.
Somehow he ended up in London, where he had the golden opportunity to buy a then senior editor a pint of lager, and here we are. No launch price or date has been announced , though developers can sign up for a development kit on HTC's Vive Focus page .
More than 3,900 pushers and users have been killed in the war on drugs that Duterte declared when he took office previous year . They expressed concern over the number of killing in the government's drug war.
The House bill would keep the deduction for property taxes and eliminate state and local income taxes. Republicans are also calling for reducing the number of tax brackets and lowering corporate rates.
Forward View Consulting maintained Big 5 Sporting Goods Corporation (NASDAQ:BGFV) on Thursday, May 25 with "Hold" rating. Gp One Trading Limited Partnership reported 11,763 shares. 183,448 are held by Ny State Teachers Retirement System.
However, he became a declining force once he was reported for a suspect action and subsequently banned from bowling in late 2014. But it was when he was reported in August 2014, at the peak of his powers, that his global career was effectively over.
Reliance Jio users will get up to 10GB of additional data per recharge with the purchase of Oppo F5, F3, F3 Plus and F1 Plus. Finally, the additional data will be credited within 48 hours of the recharge under the section "My Vouchers" on the app.
William Fazekas said one of the gunmen is in custody but officers are still searching for the other person involved. At about 2:30 a.m., four men and three women were found shot outside Dirtty's in the 4600-block of Melton Road.
There was no equivalent of Kanye West crashing the stage after losing in 2006 or Miley Cyrus smoking a joint in Amsterdam in 2013. The awards are held in a different European city each year, with winners selected by fans across the continent.
Why is November 14th Celebrated as Children's Day in India?
For better and bright future each and every child has to do hard work that's what Chacha Nehru teaches and believed in children. While at the time of ChaCha Nehru's demise in 1964 the Government of India has decided the children's day as 14 November.
Uber said it finally reached a deal with SoftBank
The company has threatened to invest in ride-hailing rival Lyft if it does not get the Uber deal done. On the successful completion of the SoftBank investment, Benchmark would drop the lawsuit entirely.
Pradyuman case: CBI denies allegations of accused's father
After thorough investigation, the CBI detained the boy and claimed that he had murdered Pradyuman to get school exams postponed. We suspect that school had hatched a conspiracy along with police to save its administration and make my husband a scapegoat.
Iran says does not interfere in Lebanese state affairs
Lebanese President Michel Aoun welcomed Hariri's statements and said he hoped the prime minister would return to Lebanon soon. Saad Hariri announced resignation from the position of Lebanese Prime Minister in a video address from Riyadh on November 4 .