Speaking on Nigeria's exemption from output cut, the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, noted that although Nigeria's production recovery efforts had made some appreciable progress from October, 2016, it was not yet "out of the woods".
Crude oil futures plunged to Rs 3,318 per barrel on Tuesday.
The pact between OPEC, which is led de facto by Saudi Arabia, and other producers led by Russian Federation on cutting output by about 1.8 million bpd took effect in January this year. This should help draw down the massive 3 billion barrels of surplus crude oil that now plagues the oil industry. It notched up a third-quarter gain of around 20 percent, the biggest third-quarter increase since 2004 and traded as high as $59.49 last week.
November West Texas IntermediateCLX7, -0.18% was down 22 cents, or 0.4%, at $50.24, holding above the key $50 threshold, but futures have slumped for three of the past four trading sessions, with Tuesday's settlement marking its lowest finish since September 21, according to FactSet data. Therefore, the higher value of the USA dollar has made it more expensive for people not in the U.S., to buy oil.
With demand outpacing supply, crude and refined products inventories are shrinking. Supplies stored at sea are dwindling too, traders say. Since then, WTI has surged more than 22 percent, reaching $52.22/barrel, the highest price for the black gold since April.
Space Station Astronauts Are Taking a Spacewalk Today Much like the name implies, it is a snake-like robotic arm which can extend up to almost 60 feet (18 meters) into space. The astronauts onboard the mission are Expedition 53 Commander Randy Bresnik and Mark Van Hei.
Citigroup, however, forecasts WTI at $54 USA a barrel and Brent at $58 in the fourth quarter. As a result, oil prices have soared. Of the two dozen executives interviewed this week on the sidelines of APPEC and at cocktail parties, only a handful saw prices averaging more than $60 a barrel next year.
These massive, yet conflicting swings in oil prices have been driven by a common denominator - the global surplus of crude oil. The Organization of the Petroleum Exporting Countries, Russia and other producers agreed to cut their combined oil production by nearly 1.8 million barrels per day from January in a bid to reduce a supply glut that had driven down prices.
"Nevertheless, the prospects for demand for crude oil in 2018 do not leave any chance for OPEC and other oil producing countries to increase oil production and they will have to extend the term of the deal, which will expire in March 2018, to render further support for the oil market".
Story by Javier Blas, Serene Cheong, and Sharon Cho; With assistance by Heesu Lee, Tsuyoshi Inajima, Dan Murtaugh, Alfred Cang, and Ann Koh from Blomberg.
Mattis and Dunford billed the plan as a "conditions-based" strategy, not dependent on a hard timeline for withdrawal of troops. After Trump's new policy was announced, though, McCain applauded the president "for taking a big step in the right direction".
Sega then tied up with Sony Pictures Entertainment in 2014 for the film development in its bid to expand its entertainment brand. Unlike many other video games that are turned into movies, Sonic the Hedgehog already has a wealth of adaptation under its belt.
Other claims also related to "paid encounters", including one when he was trade minister, as well as during chance meetings. Chief Constable Veale said on Thursday that investigators had refrained from commenting "publicly or privately" about Mr.
Congressional investigators said the ads were paid for by an organization linked to Russia's intelligence services. Accused of having to react first, Facebook is now multiplying communications on this subject.
Both Gillespie and Northam addressed the shooting in Las Vegas before beginning their prepared remarks. The state holds a C- rating from the Law Center to Prevent Gun Violence, up from an F a year ago .
Renewables made up almost two-thirds of new net power capacity around the world in 2016, with 165 GW of capacity coming online. Solar and wind power in India combine for about 90 percent of new capacity growth.
Gravitational waves were predicted by Albert Einstein a century ago as part of his theory of general relativity. Weiss, Barish and Thorne will share in the Nobel prize of 9 million Swedish Krona (£834,264/$1.1 million).
But they are not enough. "In the interim, thousands more have been lost to the daily, ruthless toll of gun violence". Richard Blumenthal said the Las Vegas shooting shows that, "the time for hand-wringing and soul-searching is over".
Hamas has rejected the Palestinian Authority's demand for disarmament and has vowed to hold onto its weapons to fight Israel. Hamas has ruled Gaza, while Abbas' party has controlled autonomous enclaves in the Israeli-occupied West Bank.
Khan said around seven to eight members of the group are still at large and some of them are still active in south Kashmir. This season alone 130-150 militants have been killed and now the JeM is trying to push its forces forward in Kashmir.
Elgar, Markram make Bangladesh pay for poor bowling
For Duanne Olivier , who plays his first-class cricket in Bloemfontein for Knights, the news can not be better. The Proteas skipper further said that players, both batsmen and bowlers, have to graft it out for five days.
Glee actor Mark Salling pleads guilty to child porn possession
After his arrest , the actor was released on bail of $20,000. " These images are more than photographs, they are child abuse ". Photo via Wikimedia CommonsIn real life, the actor who played Puck - Mark Salling - will soon be a registered sex offender.
Netflix raising subscription prices for most popular plans
Earlier this year, in fact, Netflix said that it plans to spend between $6 billion and $7 billion on content next year, alone. The company's $10/month high-definition plan now costs $11, according to changes reflected on Netflix's subscription page.
Barca offer to mediate in Spain-Catalonia conflict
Spain's biggest stock index, the Ibex 35 , suffering its biggest daily loss on Wednesday since last year's Brexit referendum vote. The Catalan government is now to decide how and when exactly the declaration of independence could be made.
You can now stream the Blade Runner 2049 soundtrack
We guess that's what happens when whisky gets involved! "I feel like that's where this is headed", Gosling responded. And, as previews for the film make very clear, he eventually will come into contact with Ford's aged Deckard.
GOP leaders say no action on gun legislation
The hail of gunfire stopped when security guards approached Paddock's room at the Mandalay Bay Resort and Casino, McMahill said. He took his own life before authorities found 23 weapons in his hotel room and another 19 at his home in Mesquite, Nevada.
IL children health insurance at risk
They don't burn through the federal money all at once, and leftover funds can be rolled over into the following year's funding. Auditor General Eugene DePasquale urged prompt funding of the Children's Helath Insurance Program on Tuesday.
Catalonia to Declare Independence in 'Matter of Days'
A child wears an " estelada ", or Catalonia independent flag, with others in a protest in Barcelona , Spain, Tuesday Oct. 3, 2017. But he said that Spain "will overcome hard times". "The reports and images of clashes, violence and injuries are of concern".
Gun fight ends, 1 jawan, 3 terrorists killed in battle
A suspected militant attack killed three people in Tral last month , while an Indian policeman was lynched in Srinagar in June . Shortly after their entry, there was heavy barrage of fire and explosions between militants and the security personnel.
Will the Yankees top the Twins tonight and reach the ALDS?
You can live stream the American League wildcard game between the Minnesota Twins and New York Yankees on the Watch ESPN website . But there's a reason that the Twins have +205 betting odds and the Yankees are -240 favorites, via OddsShark .
Titans Workout Weeden, Barkley, McGloin, Yates
Mularkey says a final decision on whether Mariota plays when Tennessee visits Miami (1-2) could come just before the game Sunday. Mariota suffered the hamstring injury on his second-quarter touchdown run in the Titans' 57-14 loss to the Texans on Sunday.