A report released by the American Petroleum Institute on Tuesday showed US crude supplies rose by 5.7 million barrels last week, more than analyst forecasts for a 4.1 million-barrel build. More so, the ongoing increase in the United States stockpiles also added to the rising supply concerns. Some wondered whether the EIA was not reporting the data or that it never changed from week to week.
"We're pleased with the increase in production from the second quarter of 2018 recognizing it reflects contributions from just one of our key growth areas, the Permian", CEO Darren Woods said. With more pipelines coming on-line, more shale can get out, so producers could be taking advantage of that.
However, OPEC's reserves are more than likely overstated.
According to Vanda Insights, supply concerns continued to ease this week, with reports of a fifth consecutive monthly increase in OPEC production, and independent surveys showing that OPEC's 15 members touched a two-year high output of 33.3 million barrels per day in October. The smallest deficit actually came from earlier this month (10/5).
At the same time, gasoline held in storage fell by 3.2 million barrels and distillate fuel inventories - including diesel and heating fuel - dropped by 4.1 million barrels.
Investors awaited industry data on US crude inventories, due to be released at 4:30 p.m. EDT on Tuesday.
Oil prices moved up for the first time in three days yesterday, but rising supply and fears over the outlook for demand amid the U.S. Now there is talk that other counties like China might ask for a pass as well. But on Monday, trying to dismiss such concerns, Saudi Arabia's Energy Minister Khalid Al-Falih said that "there is no intention" for such action, and that Saudi Arabia would play a "constructive and responsible role" in world energy markets. EIA forecast that USA crude oil production to increase by 1 million barrels per day in 2019. Analysts had predicted a draw of 2.137 million barrels for the week. That is not very comforting when you consider that total commercial petroleum inventories decreased last week by 6.4 million barrels. While far from the highs of the past five years, this is only slightly above the five-year average for inventory levels. WTI is now more than $11 below its October 3 high of $76.90.
But there appears to be no significant shortage of crude.
Beyond Iran sanctions, oil output has been rising significantly in the past two months. Sanctions on the country would lead to retaliation by Saudi Arabia which may then lead to higher oil prices.
In case you've forgotten, Baldwin's anger has always been a source of news regarding the mediocre Trump impressionist. Police said that the charges - and the question of bail - were up to the District Attorney to decide.
A police statement said a female passenger started quarrelling with the driver after she missed her stop. It doesn't look as if the driver had time even to hit the brakes before the bus went off the bridge.
He entered the Saudi Arabian consulate in Istanbul a month ago to obtain documents for his upcoming marriage, but never left. Writing for The Washington Post , he became a prominent critic of the family, particularly bin Salman.
Deputies placed the candy into evidence and the sheriff's office posted a warning to other families on social media. "Leave it be. Officials said this was the only instance of drug-laced candy that was reported. " neighbor James Smith told KATU ".
Iran began selling crude oil to private companies for export on Sunday, part of a strategy to counter the planned sanctions. Iran supplied 18.4 million tonnes of crude oil between April 2017 and January 2018 (first 10 months of fiscal 2017-18).
Hector Bellerin had to be subbed off on Sunday, and it appears that Granit Xhaka may be asked to deputize at left-back once again. Arsenal , who saw their 12-game winning run end at Crystal Palace last weekend, host Blackpool at the Emirates.
The new video blames Democrats for letting Bracamontes into the US and allowing the undocumented immigrant to stay in the country. Tom Perez , chairman of the Democratic National Committee, called the new ad the "dog whistle of all dog whistles".
"If that doesn't happen, at any big club, the managers and the recruitment will find better players or players who will do that". I thought we played really well within the game and got caught with a sucker-punch of a counter-attack.
Nishikori has a 4-2 record against Anderson from six previous meetings, including a 6-1, 3-6, 7-6 (4) win in NY in February. Anderson was runner-up to Djokovic at Wimbledon in July but the win in Vienna represented the biggest title of his career.
James Corden And Barbra Streisand Do Carpool Karaoke
It wasn't long before Streisand revealed how she doesn't drive much, and once accidentally drove onto the up ramp of a highway. In a twist on the usual format, Streisand picked up Corden in her vehicle and it was she who drove through the whole segment.
Trump Aims to End Birthright Citizenship
In that interview the president promised he would end the USA law that gives citizenship to anyone who's born within US borders . Any legislative agenda depends on success in midterm elections next week, the president's biggest electoral test since 2016.