Crude Oil Lower Despite OPEC Supply Cuts

Also, a report from Genscape showed a rise of one million barrels in crude oil inventories at Cushing, Oklahoma.

In this series, we'll take a look at the correlations between crude oil-weighted stocks and crude oil. At 1:53 pm GMT, the Comex gold futures contract for February delivery was 0.31% or $3.80 higher at $1,235.90 an ounce. Statoil ASA said it would make another US$1 billion (RM4.4 billion) of cost cuts this year after posting a surprise loss, while BP Plc said it still needs to borrow money to cover spending and dividends at current oil prices.

Boult bowls NZ to Chappell-Hadlee series win over Australia
Mitchell Santner picked up two wickets and Captain Williamson picked up a wicket and it was an important one of Aaron Finch. New Zealand lost their 9 wickets in complete 50 overs and scored 281 runs.

Price support was coming from an effort by the Organization of the Petroleum Exporting Countries (Opec) and other exporters to cut output by nearly 1.8 million barrels per day (bpd) in the first half of 2017. After the average oil price fell to its lowest in 12 years at $44 a barrel last year, BP said it expected prices to have found a floor for this year at $50 a barrel following a decision by major Opec and non-Opec producers to limit output. "The US will see in the second quarter a significant increase in local supply compared to a year ago".

"We expect USA crude oil production to be about 250,000 barrels per day higher than a year ago in the second quarter", he said.

Thomas led the Boston Celtics sixth straight win against Lakers
Maybe Thomas can finagle another sit-down chat like the one he had when Bryant played his final game at TD Garden a year ago . In Boston's final possession of the second quarter, a roar rose up all around as he dribbled nonchalantly between his legs.

At 6:17pm GMT, the Brent front month future contract for April delivery was down 1.58% or $0.88 to $51.94 per barrel, while the West Texas Intermediate (WTI) was 2.02% or $1.07 lower at $54.84 per barrel, as data published Baker Hughes pointed to yet another uptick in the number of USA and Canadian rigs. Total volume traded was about 27 per cent below the 100-day average.

The trading boom that cushioned the profits of Royal Dutch Shell Plc and BP through the price slump appears to be over. Brent crude was down 66 cents or 1.18 percent to US$54.82. These companies' trading divisions thrived in 2015 and 2016 because an unusually strong contango - where contracts for future delivery trade higher than spot prices - made it profitable to store oil. The global benchmark closed at a $US2.27 premium to April WTI.

H1B visa reform bill introduced in USA , min pay doubled to USD130,000
In many cases, the companies are hiring for highly technical positions in the fields of science, technology, engineering and math. It is noteworthy, the visa sponsors, who are employers, are sorted by the number of Labor Condition Application (LCA) submitted.


Popular
  • LION KINGS: Cameroon Overpower Egypt To Claim Fifth AFCON Title

    LION KINGS: Cameroon Overpower Egypt To Claim Fifth AFCON Title

    This set up an exciting finish as Cameroon continued to pressurise the Egyptians and looked the more likely to find a victor . Cameroon ended their 15-year wait to lift the Africa Cup of Nations after beating Egypt 2-1 in Sunday night's final in Gabon.
    SHOOTING AT THE LOUVRE: French soldier reportedly opens fire during security scare

    SHOOTING AT THE LOUVRE: French soldier reportedly opens fire during security scare

    According to broadcaster France Info, the suspected attacker carrying a rucksack attempted a knife attack on the soldier. He said the situation around the landmark museum is "totally under control" but the overall threat to France remains.
    Muslim cop: I was bullied, beaten and harassed for wearing a hijab

    Muslim cop: I was bullied, beaten and harassed for wearing a hijab

    Ringler and the women in her congregation will be wearing the hijabs on Wednesdays for the next month, maybe longer, she said. Senior Ravie Boungou told her classmates that wearing hijab is like putting on a new pair of high heels.
  • Google Dethrones Apple as Most Valuable Brand

    Meanwhile, Lego regained its status as the world's most powerful brand ahead of the "Lego Batman Movie" release. In comparison, Optus was the ninth ranked Australian brand, recording a 12 per cent decline in brand value.
    Senate committee approves nomination of Betsy DeVos for secretary of education

    Senate committee approves nomination of Betsy DeVos for secretary of education

    Democrats must channel all of that outrage in a persuasive direction if they are going to stop her confirmation before the Senate. Susan Collins of ME and Lisa Murkowski of Alaska, said they remained uncertain if they will vote for her on the Senate floor.
    Dez: More Giants should have Beckham's passion

    Dez: More Giants should have Beckham's passion

    From his in-season tussling with a kicking net on the sideline to the overblown pre-playoff boat trip, Beckham is under the microscope more than any National Football League player.
  • Ford Motor Company (NYSE:F) Updates On January Retail Sales

    Ford Motor Company (NYSE:F) Updates On January Retail Sales

    Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Ford Motor Company by 4.6% in the second quarter. The difference between the expected and actual EPS was $-0.01/share, which represents an Earnings surprise of -3.2%.
    DE  union lawyer says inmates have 5 hostages

    DE union lawyer says inmates have 5 hostages

    An aerial view of the prison showed about two dozen men standing in three groups on an open space of prison's sprawling campus. There was an assault at the same prison last week, on Saturday, an inmate squirted an unknown liquid at a correction officer.
    Jallikattu: Supreme Court raps TN for stir, clears the new law

    Jallikattu: Supreme Court raps TN for stir, clears the new law

    Attorney General Mukul Rohatgi had last week informed the Supreme Court that the Centre would withdraw its earlier notification. The bench said, "Tell your government that law and order is primacy in civilized society and we can't tolerate such incidents".
  • US Coast Guard to suspend search for Canadian 'Sharkwater' filmmaker

    US Coast Guard to suspend search for Canadian 'Sharkwater' filmmaker

    Officials said 37-year-old Rob Stewart had gone missing Tuesday afternoon in the vicinity of Alligator Reef, off Islamorada. Despite the Coast Guard's decision to suspend the search, Stewart's parents said they aren't giving up.

    Universities respond to Trump travel ban

    BU wouldn't disclose their identities, to protect them from potential backlash, spokesperson Renee Charles said. I strongly support the statement from the Association of American Universities , of which we are a member.
    Judge who stayed Trump immigration order has MI  roots

    Judge who stayed Trump immigration order has MI roots

    Trump on Friday signed an executive order that suspended refugees from immigrating to the United States for 120 days. The newspaper said Vayeghan was on a plane to Tehran by the time the judge issued the order.

CONNECT