emfizz.com
emfizz.com July 26, 2017


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".

Trump hints he may end daily White House press briefings
In an interview with United States media, President Trump also accused him being a "showboat" and a "grandstander". The US President told reporters "we can make a fast decision" and that it was "possible" it could be by Friday.


IPL 2017: Match Preview: Qualifier 1 - MI V/s RPS
Karn, who was picked ahead of Harbhajan Singh for the crucial game, ended up with decent figures of 4 for 30 in four overs. Though Parthiv Patel held one end up, scoring 52 off 40, the hosts lost wickets too frequently to make a match of it.


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.


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.



Other News

Trending Now

Officials Weigh In on Embassy Clash with President Erdogan's Bodyguards
Photos and videos posted on social media by witnesses showed a chaotic scene of flying fists, feet and police batons. He exits the black Mercedes and stands next to the open door, peering through a group of trees as the chaos unfolds.

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.

Sheffield Wednesday v Huddersfield Town
As Dortmund II coach under Jurgen Klopp, Wagner is something of a disciple of the Liverpool boss and his "gegenpressing" style. And even despite the huge progress of Huddersfield , personally, I do not really believe in their exit to the Premier League.

How To Help Impeach Trump If Your Representative Won't
Justin Amash (R-MI), told reporters that if the details in the memo were true, it would merit impeachment. Tom McClintock, R-Calif., one of three California Republicans who have called for an independent probe.

Putin plays soviet classics on Xi Jinping's piano
A video of Russian President Vladimir Putin taking a turn at the ivories in Beijing is now making the Internet rounds. When Putin arrived at Xi's residence, he passed the time by playing some songs on the piano.

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.

No Filipinos hurt in Times Square incident
Bradix added that Rojas "was screaming-no particular words-but he was screaming and flailing his arms in all kinds of directions". Navy records show that in 2013 he spent two months at a naval prison in Charleston, South Carolina, but do not indicate why.

Memo: Trump Discussed Imprisoning Reporters With Comey
The memo reportedly states that Comey did not speak about the investigation but simply said , "I agree he is a good guy". They were warned about this weeks before the inauguration of President Trump.

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.

Russian FM mocks US media over intelligence-sharing reports
President Donald Trump addresses a press conference at the White House in Washington D.C., the United States , on April 12, 2017. Trump has admitted he shared information with Russian foreign minister Sergei Lavrov, saying he had every right to do so.