Monday, 10 August, 2020
  • Economy
  • Russian Federation calls for more oil output cut discipline

Russian Federation calls for more oil output cut discipline

Crude Oil Prices dip after Crude Oil Prices dip after OPEC report OPEC report Russian Federation calls for more oil output cut discipline
Debra Rodriguez | 25 July, 2017, 00:42

Nigeria reported to OPEC that crude oil production in June was about 1.67 million barrels per day.

Libya is allowed to keep increasing production and has plans to raise output as high as 1.25 million barrels a day, Al-Falih told reporters in St. Petersburg on Monday.

The JMMC also said Nigeria would join the deal by capping or even cutting its output as well although the exemption for Libya would continue. WTI-Brent spread was stable on Jul-2017.

The Saudis have belatedly woken up to how oil traders react to a USA that's visibly awash with crude.

OPEC members Nigeria and Libya have been exempt from the output cuts, and market watchers remain concerned that production from the two countries is offsetting the impact of the global reduction.

"There is still room for improvement by some participating producing countries, and demanded that all participating producing countries must promptly reach full conformity", a release from the meeting said.

The Saudis are preparing to take public part of their state oil giant Saudi Aramco next year, and higher oil prices would make the company look more valuable. The average rate of US imports from the desert kingdom over the past six weeks has dropped by 450,000 barrels a day, or 34 percent, compared with the first six weeks of the year.

Scaramucci's 2016 op-ed targets then-candidate Trump
Responding to a question from the interviewer, Scaramucci said he wants "the president to be the president". He said he would tell the staff, "If we don't stop the leaks, I'm going to stop you".

Saudi Arabia is heavily dependent on oil for income and has been suffering since oil prices crashed from more than $100 a barrel in 2014.

Oil prices rose slightly on Monday.

(OPEC) and other producers including Russian Federation that are locked in a battle against rising shale production in their efforts to boost prices.

The net positive dollar flows through the economy is also a signal that the new Investor and Exporters (I & E) window is bringing back confidence and some offshore flows. He pointed to discrepancies between countries' production and export figures, calling the difference "a matter of concern".

Falih said OPEC and non-OPEC partners were committed to cut output longer if necessary but would demand that non-compliant nations stick to the agreement.

Elsewhere, the International Monetary Fund left its projection for global economic growth at 3.6 percent for this year, but said that forecast masks swings at the country level.

For the first time in three years, Russian Energy Minister Alexander Novak said global oil and petroleum product volumes have declined.

Schumer: Dems didn't 'tell people what we stood for' in 2016
Doklam has always been under China's jurisdiction: Minister

Recommended

  • Weekly Review: Sensex, Nifty hit new peak during the week

    Weekly Review: Sensex, Nifty hit new peak during the week

    Reliance Industries and Wipro traded on its new 52-week high of Rs 1,588.00 per share and Rs 290.90 per share, respectively. However, the market breadth closed negative as about 1,425 shares declined against 1,254 advancing shares on the BSE .
    GLAS: Microsoft's first smart thermostat

    GLAS: Microsoft's first smart thermostat

    Currently, Microsoft and Johnson's pride rivals with other smart thermostats like the Nest , Ecobee , and Honeywell devices. Developed in partnership with Johnson Controls , the swish looking GLAS thermostat was unveiled quietly via YouTube .
    Sergio picks a fight with a bush and loses

    Sergio picks a fight with a bush and loses

    The Masters champion took a painkiller on the fifth tee, and then spoke with a medical official on the seventh hole. The Spaniard grabbed at his shoulder, presumably in pain, and was visibly sore for the next few holes.
  • Brooks Koepka holes out from bunker for share of Open Championship lead

    Brooks Koepka holes out from bunker for share of Open Championship lead

    So, nothing you can do about that other than keep your head down, play as well as you can, and see what happens after two days. A victory for either man this week would end the recent run of seven consecutive majors going to first-time major winners.
    Cops seek man in 2 slayings across 2 MI counties

    Cops seek man in 2 slayings across 2 MI counties

    Joseph County Undersheriff Mark Lillywhite told 24 Hour News 8 that the suspect is 32-year-old Zachary Michael Patten. Lillywhite said after shooting a female in Kalamazoo County, the suspect fled to his ex-wife's house in St.
    Lyft changes gears to build its own self-driving tech

    Lyft changes gears to build its own self-driving tech

    Building autonomous driving systems is a complicated and expensive endeavor, and brings a new layer of complexity to Lyft. Lyft had announced in June that it was partnering with nuTonomy, the technology company behind the autonomous cars.
  • Linkin Park set up tribute page to Chester Bennington following his death

    Linkin Park set up tribute page to Chester Bennington following his death

    He added, "If anyone out there is struggling with the same thoughts, the same issues, please, do not make the same decision". I'm p***ed that you did this, but I know this could have been me back in the day after getting wasted one night.
    Usher Sued for $10 Million for Allegedly Exposing a Woman to Herpes

    Usher Sued for $10 Million for Allegedly Exposing a Woman to Herpes

    In California, "it is illegal to knowingly or recklessly transmit a sexually transmitted disease", according to the Daily News . She is concerned because she was "exposed" and says she wouldn't have had sex with Usher if he'd disclosed he has the virus.
    Why General Electric Earnings Won't Move the Needle Much

    Why General Electric Earnings Won't Move the Needle Much

    The healthcare segment saw revenues rise 4% to $4.7 billion and transportation segment revenues fell 14% to $1.07 billion. GE reported $29.6 billion in revenue for the second quarter, down 12 percent from the same period past year .
  • Three Palestinians killed in soaring Jerusalem violence

    Three Palestinians killed in soaring Jerusalem violence

    By contrast, the Red Crescent reported at least 450 Palestinians were wounded in the demonstrations, almost half from tear gas. Also, three Palestinians were killed and tens were injured on Friday during the clashes with the Israeli security forces.

    Spieth, Koepka, Kuchar lead American charge at British Open

    Rain began pounding Royal Birkdale on Wednesday afternoon, closing the course because of the lightning that accompanied the storm. However, patches of bad weather often last for only part of the day, creating different course conditions for different players.
    Philippine Congress extends martial law in south amid siege

    Philippine Congress extends martial law in south amid siege

    Outside the gates of Congress, sectoral groups picketed and called for an end to the martial law. This is not the martial law that we had before.

Schumer: Dems didn't 'tell people what we stood for' in 2016 Schumer: Dems didn't 'tell people what we stood for' in 2016 But they want to know what do you stand for?" Schumer also blamed Democrats, saying they're a reason why Americans are unclear of what the party represents.

Doklam has always been under China's jurisdiction: Minister Doklam has always been under China's jurisdiction: Minister She also said that China was trying to change the delicate balance at the tri-junction which hosts the borders of Bhutan, India and China.

WWE Cancels 'Talking Smack' Talk Show - But Forgets To Tell Hosts WWE Cancels 'Talking Smack' Talk Show - But Forgets To Tell Hosts Talking Smack debuted on the WWE Network on August 2, 2016 and would air immediately following SmackDown at 10pm ET. Young and Daniel Bryan hosted Talking Smack on the WWE network each week after 205 Live .

Eight people found dead in truck in Texas 'human trafficking crime' Eight people found dead in truck in Texas 'human trafficking crime' Investigators do not know where the truck came from or how long it had been sitting in the parking lot before police arrived. Experts have warned in recent months that tougher immigration policies could make it more hard to stop human trafficking.

Charlie Gard's parents 'extremely upset' over GOSH death threats backlash Charlie Gard's parents 'extremely upset' over GOSH death threats backlash In some cases parents of other sick children have been harassed while trying to visit, they said. Staff have received abuse both in the street and on line.

Gal Gadot Snaps A Quick Selfie With Her Justice League Bros Gal Gadot Snaps A Quick Selfie With Her Justice League Bros Thus, it's quite possible he won't get the main writing credit for Wonder Woman 2 and is just formulating the broader story ideas. IGN reports that during the Warner Bros . panel at the San Diego Comic-Con, a sequel to Wonder Woman was officially confirmed.

Marvel Unleashes Black Panther And Avengers: Infinity War Footage Marvel Unleashes Black Panther And Avengers: Infinity War Footage One of the stars from Comic-Con was the highly anticipated " Black Panther ", with footage and posters on display for attendees. Wright spoke proudly of being given the opportunity to play a smart, strong black woman in a big movie like this.

German girl found in Mosul is in good health German girl found in Mosul is in good health A pathetic image has surfaced in which an ISIS fighter is seen wearing woman clothes but forget to shave his beard and moustache. The teenager had married a Muslim Arab she met online after arriving in the group's territory, Iraqi officials said.

China trying to change status quo on border: Sushma China trying to change status quo on border: Sushma The Chinese daily article said China will by never agree to withdraw its troops as a precondition for the talks. The editorial asked India to "abandon the long-term fantasy" of the Doklam area.

Jordan urges Arab FMs to meet over Al-Aqsa Mosque tension They refused to enter, preferring to pray outside, in some cases filling the narrow alleyways of the Old City's Muslim quarter. The Palestinian Red Crescent has put the number of those injured in East Jerusalem and the West Bank at some 140 people.

Alexis Sanchez nearing move after spending Friday with PSG's sporting director Alexis Sanchez nearing move after spending Friday with PSG's sporting director Speaking today after his side's 3-0 defeat to Chelsea in Beijing, Wenger called the latest Sanchez rumours: 'Only media imagination'.

'Ready Player One' Trailer Breakdown Explains the Iron Giant and 80s References 'Ready Player One' Trailer Breakdown Explains the Iron Giant and 80s References There are a few obvious references here, including the Iron Giant , Freddy Kruger, and a DeLorean. Starring X-Men actor Tye Sheridan , the film is based on the novel by Ernest Cline .

Branden Grace shoots 62 at British Open to set majors record Grace, whose caddie told him of the record after he holed out at the last, added: "I feel I'm playing well". Watch LIVE coverage of the Open Championship on TSN1, TSN4, TSN5, and TSN GO.

Trai Turner extension from Panthers worth $45M Trai Turner extension from Panthers worth $45M Turner's new deal is worth $45 million with $20 million guaranteed, according Ian Rapoport of NFL Network. Turner, who was the 92nd pick in the 2014 draft, had one season remaining on his rookie contract.

YouTube to redirect "terror" searches YouTube to redirect Google says it will measure success based on the amount of engagement the debunking videos get from the Redirect Method . While superficially commendable, the Redirect Method does raise the specter of intervention and censorship.