Tuesday, 11 December, 2018

Russia's Energy Minister: There Is Risk Of Oil Price Hitting $100

Russian oil production jumps to post Soviet high Ilya Naymushin Reuters
Laurie Berry | 07 October, 2018, 12:26

Oil prices remain near four-year peak on rising doubts about the capability of Saudi Arabia and other oil producers to substitute the cuts in Iran's crude exports once the USA imposes oil sanctions on the Islamic republic on November 4.

Brent crude oil futures were at $84.86 per barrel at 0340 GMT, up 6 cents from their last close. On Wednesday, Brent rose to a late 2014 high of $86.74.

"President Trump has said he thinks the oil price is too high".

Brent for December settlement was up 48 cents at $85.28 a barrel on the London-based ICE Futures Europe exchange.

Following the spike, which is attributed to USA sanctions on Iran's exports and the Organization of Petroleum Exporting Countries' reluctance to raise oil production last week, energy experts have predicted a surge beyond the $90 mark.

Paulo DYBALA hat trick for Juventus in the Champions League
"Being left out made me work harder and get back into shape, so I am taking full advantage of that now". Juve went ahead after five minutes with the simplest of goals.

South Korea's imports of US crude oil has eclipsed those of Iranian crude oil for the first time. As the proportion of crude oil imported from non-Middle Eastern regions such as the United States has grown, the Korean government is considering abolishing the system to refund some of its taxes on imported oil when importing crude oil from non-Middle Eastern countries. Saudi Energy Minister Khalid Al-Falih revealed the reason his country can't increase production more is that "all of our customers are receiving all of the barrels they want".

"We expect U.S. crude production to exit the year at 11.3-million barrels a day", Barclays bank said in a note on Tuesday.

S&P Global Platts sees prices strengthening "a little" toward the end of the year, said Chris Midgely, the company's global director of analytics, at the S&P Global Platts Analytics annual summit. On September 28, the West Texas Intermediate (WTI) oil price was US$73.25 per barrel, while Dubai oil surpassed US$80 and finally, was traded at US$80.03. Prices are then likely to weaken in the first two quarters of 2019 before strengthening about $4 to $5 a barrel in the second half of the year as the market anticipates a shipping fuel regulation that takes effect in 2020. Rising costs and pipeline bottlenecks in the nation's largest oil field have hindered new drilling since June.

"That oil prices are rising to elevated levels at the same time as emerging market currencies hit record lows will be a flashing signal to OPEC members that demand may be at risk of a sharp correction", said Emirates NBD bank.

Recommended

  • Potential Tropical Storm could make Wednesday landfall

    Potential Tropical Storm could make Wednesday landfall

    Regardless of name or not, this system will likely be in a good position to send some moisture our way later in the week. You can also watch all of our newscasts - and - if the need arises, we will live stream the news 'round the clock.
    Astronomers Find First Alien Moon: Its Big And Gaseous

    Astronomers Find First Alien Moon: Its Big And Gaseous

    So Kipping and Teachey studied the information from NASA's Kepler space telescope , an exoplanet chasing satellite. The planet itself is several times heavier than Jupiter, and its mass, the moon is 1.5% of the mass of the planet.
    Backed by senators, Kavanaugh on track for U.S

    Backed by senators, Kavanaugh on track for U.S

    Joe Manchin (D-WV) - two key swing votes - announced their support for Kavanaugh Friday, giving the nominee the majority he needs. Senate Democratic leader Chuck Schumer of NY called the fight "a sorry epilogue to the brazen theft of Justice Scalia's seat".
  • Saudis murdered journalist in Istanbul consulate, says Turkey

    Saudis murdered journalist in Istanbul consulate, says Turkey

    He went to the Saudi consulate to obtain an official document for his upcoming marriage to his Turkish partner. Khashoggi left his home country past year and moved to Washington, D.C., where he lived in self-imposed exile.
    Unemployment Rate Falls To 49-Year Low Of 3.7 Percent

    Unemployment Rate Falls To 49-Year Low Of 3.7 Percent

    This comes despite USA president Donald Trump's tariffs on goods from countries including China and those of the European Union. The unemployment rate fell to 3.7 percent in September, its lowest level since 1969 , the Labor Department reported Friday.
    LG has presented the new flagship V40 ThinQ with five cameras

    LG has presented the new flagship V40 ThinQ with five cameras

    The main rear camera also has half the shutter lag, 50% faster Dual PDAF autofocusing, and a "significantly faster" burst mode. Its main feature became a triple major and double front-facing camera , reports " New time" with reference to PCWorld.
  • Indonesia's quake, tsunami reaches 1,571, search mission extended

    Indonesia's quake, tsunami reaches 1,571, search mission extended

    Authorities earlier allowed desperate villagers to grab food supplies from shops but have warned them not to take other things. According to Indonesian National Board for Disaster Management this morning, the death toll has so far risen to 1,558 people.
    Conservative Judge Brett Kavanaugh Confirmed After Heated National Debate

    Conservative Judge Brett Kavanaugh Confirmed After Heated National Debate

    Republican and Democratic strategists expect Kavanaugh's nomination to galvanize their voters ahead of the midterm elections. Manchin faces a competitive re-election race next month in a state Trump carried in 2016 by 42 percentage points.
    Shehbaz Sharif Arrives in Accountability Court in Lahore

    Shehbaz Sharif Arrives in Accountability Court in Lahore

    Shehbaz Sharif, brother of ex-prime minister Nawaz Sharif, at the Parliament house in Islamabad, Pakistan August 13, 2018. NAB had also received information from the laptop of Fawad Hasan Fawad from which data was retrieved after his arrest.
  • Liverpool v Manchester City

    Liverpool v Manchester City

    City also have a terrible record at Anfield having lost 12 of their last 17 visits, with their last away victory in 2003. Just seven games into the Premier League season, no knockout blow can be landed this weekend.
    Interpol asks China for information on its missing president

    Interpol asks China for information on its missing president

    He added that China was likely to "brush off" any political damage that it would cause to Beijing's involvement in global bodies. He previously served as China's vice minister of public security and was elected to lead Interpol in 2016.
    US Senate heads to final vote on Kavanaugh nomination

    US Senate heads to final vote on Kavanaugh nomination

    She said: "Thank you, Senator Collins, for standing by your convictions and doing the right thing to confirm Judge Kavanaugh". One woman held a sign saying "Predators Club" with pictures of Kavanaugh, Justice Clarence Thomas and President Donald Trump.

India On Course For a Victory vs Windies After Enforcing Follow-on India On Course For a Victory vs Windies After Enforcing Follow-on Even before stepping on the green pitch of Rajkot, the Men in Blue were heavily touted to thrash the travelling West Indies side. Powell resorted to aggression in an excellent counter-attacking knock, facing 93 balls and hammering eight fours and four sixes.

Toddler shreds over $1,000 in cash after finding parents' stash Toddler shreds over $1,000 in cash after finding parents' stash The envelope, labeled "Utah Utes Tickets", contained $1,060 and was placed on a counter as a reminder to deliver it to relatives. They searched the house - even through the trash - looking for the missing cash, they told the station.

Verstappen Mocks Vettel and Ferrari over Championship Claims Verstappen Mocks Vettel and Ferrari over Championship Claims He was then fourth after Verstappen ran off the road at the chicane, and in rejoining the track, bumped Raikkonen on to the grass. Japanese fans: Despite the disappointment for Honda's home fans, the large crowds at Suzuka remained enthusiastic throughout.

Gary Neville fumes over Man United conduct regarding Mourinho leak Gary Neville fumes over Man United conduct regarding Mourinho leak He is currently without a job and the Mirror report that Manchester United chiefs have asked Zidane to remain unemployed for now. And Collymore says United must sack Mourinho due to his dealings with his key players.

Jose Mourinho facing sack if Manchester United lose to Newcastle Jose Mourinho facing sack if Manchester United lose to Newcastle Zinedine Zidane is the 8/11 favourite to be the next Manchester United manager, with Antonio Conte at 8/1 and Arsene Wenger 10/1. Speaking in an interview with BBC Radio 5 live , Sutton said: "I don't think Mourinho will make Christmas".

In Egypt, Melania Trump backs 'highly qualified' Kavanaugh for Supreme Court In Egypt, Melania Trump backs 'highly qualified' Kavanaugh for Supreme Court Beck called the speech "disgusting" and dismissed the notion that Collins had been a swing vote. Two other women also came forward with sexual misconduct allegations against Kavanaugh.

Opera singer Montserrat Caballe dies in Barcelona, aged 85 Opera singer Montserrat Caballe dies in Barcelona, aged 85 Throughout her career, Montserrat Caballé starred in 90 opera roles, appearing on stage in 4,000 performances. Her voice was described by her fans as inspirational, legendary and not of this world.

Conor McGregor brands Khabib Nurmagomedov 'petrified' ahead of UFC 229 Conor McGregor brands Khabib Nurmagomedov 'petrified' ahead of UFC 229 Given McGregor's long layoff and Nurmagomedov's recent form, I have to favor the Russian here. I'm going to eat that man alive.

End divisions or put Brexit at risk, Theresa May tells party End divisions or put Brexit at risk, Theresa May tells party Many Conservatives expect her to face a leadership challenge soon after Britain leaves the bloc - or even before. Here we look at who came off best from this week's shindig, who came off worst.

Evidence of possible exomoon detected for the first time Evidence of possible exomoon detected for the first time Finding moons outside of our solar system could also lead to new discoveries in the hunt for habitable places out in the galaxy. The moons of Jupiter and Saturn on the other hand coalesced from the debris left behind after the planets formed.

Fabregas commits future to Chelsea and reveals he wants a new contract Fabregas commits future to Chelsea and reveals he wants a new contract Meanwhile, Sarri went on to say he's thrilled at how quickly his squad have gelled together since his summer arrival. But he believes he should have come off it for the recent league draws with West Ham and Liverpool.

Manchester United go two down against Newcastle inside 10 minutes Manchester United go two down against Newcastle inside 10 minutes It was a performance of genuine heart, and one that reminded us Mourinho still has something to give. And it looks as though history is repeating on us at Manchester United .

Melania Trump ends Africa tour, says 'glad Kavanaugh accuser been heard' Melania Trump ends Africa tour, says 'glad Kavanaugh accuser been heard' As well as the national park, she visited an orphanage and watched a children's performance at the city's national theatre. She has faced a wellspring of criticism for that particular effort in light of the president's often vitriolic tweets.

Gary Neville blasts Manchester United hierarchy amid Jose Mourinho reports Gary Neville blasts Manchester United hierarchy amid Jose Mourinho reports One of his former clubs, Inter Milan , looks like being a possible option for Mourinho should he leave Manchester. Another player who will not feature for the Magpies against Mourinho's men is centre-back Florian Lejeune.

3 changes India must make for the second Test against West Indies 3 changes India must make for the second Test against West Indies India completed another easy win at home over the Windies registering their biggest win at Rajkot by innings and 272 runs. As a batting unit we didn't get any partnerships put together and that cost us.