Opec extends 1.8m barrel daily cut in oil production
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Opec strikes deal to cut oil output for nine months
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Oil prices retreat on profit-taking
20 May 2017, 03:50 | Jan Cross
OPEC estimated last week however, that commercial inventories in OECD countries were still 276 million barrels above the five-year average benchmark.
Russian Energy Minister Alexander Novak said the proposed extension of output cuts aimed to bring global commercial oil inventories down to the five-year average and stabilize the market.US bank Goldman Sachs said the deal would likely extend the oil price rebound "although the rally so far.has remained modest compared to the move that occurred last year when the OPEC cuts were first announced".
Oil prices have continued to grow driven by the joint announcement made by Saudi Arabia and Russian Federation to extend crude supply cuts until the end of March 2018.
Fatih Birol of the International Energy Agency. Nonetheless, "stocks at the end of 2017 might not have fallen to the five-year average, suggesting that much work remains to be done in the second half".
G7 finance chiefs vow to unite against cyber crime
Steps taken by President Trump on trade and regulation since taking office have left foreign counterparts jittery. The gathering paved the way for a meeting of national leaders in Taormina, Sicily, on May 26-27.
Oil touched a five-month low of $43.76 a barrel in NY on May 5 amid slower demand growth and rising supply outside OPEC, particularly in the U.S. Saudi Arabian production in April average 9.97 million barrels per day, nearly 1 percent below its quota under the multilateral deal.
In its monthly oil market report, the Paris-based group noted Libya has raised oil production to 800,000 barrels a day, the highest point in three years, according to its preliminary data.
The IEA noted that the April supply figure of 96.17 million bpd was 90,000 bpd lower than in April 2016, but added that non-OPEC output this year is set to rise by 600,000 bpd, which will offset OPEC's and its partners' 1.8-million-bpd pledged reduction in global supply only partially.
Still, stockpiles in some of the most developed economies - the 35 nations making up the Organization for Economic Cooperation and Development - increased in April, signaling that OPEC's work remains unfinished.
Paul Pierce says Celtics should trade No. 1 overall pick
ESPN lists Markelle Fultz , Ball, De'Aaron Fox, Josh Jackson and Jayson Tatum as candidates to be selected first overall. It seems to me like the National Basketball Association pushed the Suns out on goal to make room for the big markets.
EC to link all EVMs to VVPAT by 2019
However, the poll body has been maintaining that EVMs are tamper proof and can not be manipulated. Before that the AAP legislator also showed how the EVM initially gives proper and correct result.
Sirius XM Holdings Inc
Dynamic Technology Lab Private Ltd increased its stake in shares of Sirius XM Holdings by 1.7% in the first quarter. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.29 billion.
Paytm raises $1.4 b funding from SoftBank
There has also been a significant uptake in its movie ticketing, and travel booking (rail, bus and flight tickets) businesses. Investors like Softbank are betting big on Paytm as they expect to re-write the Alipay success story in China here in India.
Swedish prosecutor drops rape probe into WikiLeaks' Assange
American authorities have prepared charges to seek Arrange's arrest, CNN reported, citing US officials familiar with the matter. Police kept up round-the-clock guard outside the embassy until previous year , when the operation was scaled back.
Nike Inc (NKE) Receives "Buy" Rating from Jefferies Group LLC
The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink . The disclosure for this sale can be found here. $787,160 worth of stock was sold by WHITEHURST JULIAN E on Tuesday, February 21.
How the Greens could wield power in a minority government
President Donald Trump over softwood lumber and insisting her opponents knew nothing about creating jobs or balancing budgets. NDP Leader Horgan reached out to Green voters in his election night speech, mentioning issues that resonate with both parties.
Always Dreaming heavily favored in early Preakness wagering
It's something I'd love to win. "My father has taken good care of me for 30 years, so I'm glad I could do this for him". The colt finished fourth after getting bounced around and having a rough early trip in the Kentucky Derby two weeks ago.