Markets

Crude oil prices rise on anticipation of inventory reduction, following cuts

Crude oil prices rise on anticipation of inventory reduction, following cuts

Russian Energy Minister Alexander Novak and UAE's Oil Minister Suhail Mohamed Al Mazrouei attend a meeting in the Opec headquarters in Vienna, Austria December 7, 2018.

In 2016, via its state-owned oil company Petroliam Nasional Berhad, Malaysia announced that it would cut oil output by 20,000 barrels per day as part of its commitment to reduce supply following an agreement between the Organization of Petroleum Exporting Countries (OPEC) and non-OPEC producers. Donald Trump has urged Saudi Arabia and allied countries to keep the oil price low.

NOC said on Monday that the shutdown of the El Sharara oil field would result in a production loss of 315,000 barrels per day (bpd.), and an additional loss of 73,000 bpd.at the El Feel oil field.

The Saudi minister noted before the meeting that the oil pumpers are looking for a sufficient cut to balance the market.

But as we go through seasonal demand peaks and the Iran sanctions waivers issued by Washington to 8 major oil-importing countries come off, "we will start to see the market tightening up", Yazhari said, noting that the market has not felt the full impacts of those sanctions yet, created to cripple the energy sector of OPEC's third-largest producer.

"Secretary Perry advocated for the expansion of joint partnerships with the United States as Qatar seeks to grow its LNG operations around the world", the Department of Energy said.

Ubisoft Reveals First Look at Far Cry New Dawn
The Far Cry: New Dawn map might ostensibly be the same, but there's certain to be plenty of post-apocalyptic surprises to uncover. Visiting Nero's partner Nico, you'll be able to outfit yourself with new Devil Breakers, each with their own attributes.

West Texas Intermediate for January delivery was at $51.12 a barrel on the New York Mercantile Exchange, up 12 cents, at 1:02 p.m.in Singapore.

Opec expects global oil demand to slow next year and sees little support from the economic backdrop. Meanwhile, China's vice premier discussed a timetable and road map on trade talks with his US counterpart.

The oil producers have come up with this plan to cut the production levels.

Russian Federation is the second largest crude oil producer in the world after the United States. "China trade tensions continue to weigh on the market, negating last Friday's OPEC plus production cut news", Nicholas Cawley, analyst at DailyFX, told UPI.

Crude has slumped about 30 percent from a four-year high in early October, with volatility reaching the highest level in more than two years last month.

"Surveys ahead of the report point to a lower, but still healthy, reduction of 3.5 million barrels".


  • Twitter Showers Praise on India as Kohli's Men Take Control

    Twitter Showers Praise on India as Kohli's Men Take Control

    This Test we haven't been able to get a set batter right through or a number of batters right through but that's a goal of ours. It's a really key element for us, to get lots of overs into them and I am sure India are thinking the same with us.
    Salihamidzic: De Jong is on Bayern’s radar

    Salihamidzic: De Jong is on Bayern’s radar

    As well as spending some of his young career in defence, De Jong is a deep-lying midfield playmaker who also likes to dribble.
    Trump Organization Hits NY Times: We Don't Hire Illegals

    Trump Organization Hits NY Times: We Don't Hire Illegals

    His silence on the issue has, to the dismay of some conservatives, drained momentum from one of their top policy goals. Another club staffer drove her to work, the paper reported, because she could not legally obtain a driver's license.
  • Trump sees a border wall where none exists

    Trump sees a border wall where none exists

    President ". "When the president brags he has won North Dakota and IN , he's IN real trouble", retorted Mr Schumer with a smile. Tuesday's late-morning meeting will be the first gathering of Trump , Schumer and Pelosi ahead of the shutdown deadline.
    Wisconsin Republicans approve bills stripping power from incoming Democratic governor

    Wisconsin Republicans approve bills stripping power from incoming Democratic governor

    Republicans defended the measures , saying their goal is to keep a proper balance between the legislative and executive branches. The last lame-duck session in Wisconsin was in 2010, when Democrats tried unsuccessfully to enact labor agreements.
    Priyanka Chopra returns to Mumbai with new husband Nick Jonas

    Priyanka Chopra returns to Mumbai with new husband Nick Jonas

    The home has five bedrooms, four bathrooms, an ungated pool that overlooks the hills and a total area of 4,129 square feet. The couple will invite Priyanka's colleagues from Bollywood industry and friends and family who stay in the maximum city.
  • Ghosn formally charged for financial misconduct

    Ghosn formally charged for financial misconduct

    While visits by people from outside the detention center are restricted, lawyers and embassy officials are allowed to meet them. Nissan Motor Co. confirmed the charges against it in a statement and vowed to strengthen its governance and compliance.
    Chhattisgarh Polls: Counting Of Votes Today; BJP Rules Out Hung Verdict

    Chhattisgarh Polls: Counting Of Votes Today; BJP Rules Out Hung Verdict

    In the 2013 elections, the BJP won 49 seats, the Congress 39, while one seat each was bagged by the BSP and an Independent. In Chhattisgarh as well, the Congress is shown leading comfortably in 57 of the 90 seats in the state.
    Mueller accuses Manafort of lying, but not about Russian Federation  collusion

    Mueller accuses Manafort of lying, but not about Russian Federation collusion

    The memo from NY prosecutors identifies three people at an August 2014 meeting: Cohen, "Individual 1" and "Chairman 1". For that reason, prosecutors said, he should be sentenced to "substantial" prison time , possibly 31/2 years.
  • Google CEO denies political bias and plans for China search engine

    Google CEO denies political bias and plans for China search engine

    Republican committee members are expected to question Pichai about allegations Google is biased against conservative voices. Evercore's DiClemente said he was satisfied with Pichai's handling of barbed questions from Republicans and Democrats.
    Grace Millane murder accused appears in court

    Grace Millane murder accused appears in court

    They want to hear about any sightings of a 2016 red Toyota Corolla rental vehicle last Monday morning in West Auckland. Millane, from Essex in southeast England, was staying at Base Backpackers hostel during her time in Auckland.
    Cavaliers ship George Hill to Bucks, get Dellavedova back

    Cavaliers ship George Hill to Bucks, get Dellavedova back

    Henson, 27, averaged 5.6 points, 5.1 rebounds and 1.0 assist in 14 games for the Bucks this season. Head coach Scott Brooks is also using power forward Markieff Morris frequently in the "5" role.