Oil rises to $73 on report Russia, Saudi discussing possible output cut
Oil rises to $73 on report Russia, Saudi discussing possible output cut
Iran’s Economy Minister Farhad Dejpasand
09 November, 2018, 14:20
Separately, a top OPEC official from Iran, which has been angered by higher production in Saudi Arabia and Russian Federation in response to Trump's calls, said Riyadh and Moscow needed to cut output by 1 million barrels per day.
Trump said on Monday he wants to impose sanctions on Iran's oil gradually, citing concerns about shocking markets and causing global price spikes.
China, the world's biggest importer of crude oil, is also the top buyer of Iranian oil, and its mostly state-owned refiners have lobbied hard for waivers.
The API reported a draw in gasoline inventories for week ending November 2 in the amount of 1.2 million barrels.
An industry source who also monitors such shipments said the figure was likely to be on the low side.
The United States is warning other countries not to allowIranian oil tankers into their ports, saying the tankers not only could incur penalties under USA sanctions but may be courting "environmental disaster".
Iran's oil minister on Thursday predicted a painful time ahead for global oil customers as US sanctions take hold, saying waivers that Washington granted to eight major oil-importing countries are not enough for market demands.
Speaking on background Tuesday, a U.S. State Department spokesperson said that Secretary Mike Pompeo had approved carving an exception from sanctions for Iran's Chabahar port.
A close USA ally, South Korea had stopped buying crude from Iran ahead of the sanctions while still lobbying for exemptions.
However, Washingtongranted waivers to Iran's biggest customers to allow limited imports for 180 days. -China trade war will dampen fuel demand as supply grows from multiple directions. At first glance, this would seem improbable, given the way the government is trying to project the temporary waiver from sanctions given to India and seven other countries.
The exemption for Chabahar comes as good news for India and Afghanistan, but undercuts the Trump administration's portrayal of the sanctions as the "toughest ever". It is also considered a gateway to golden opportunities for trade by India, Iran and Afghanistan with central Asian countries besides ramping up trade among the three countries after Pakistan denied transit access to India.
The sanctions that went into force on November 7 target Iran's energy, financial, and shipping sectors and result from President Donald Trump's decision to withdraw the United States from Iran's 2015 nuclear agreement with world powers, which had lifted the sanctions for a time.
From around $87 a barrel early October, Brent crude has tumbled by a whopping 15 per cent to less than $72 now, signifying a remarkable correction and confirming that the market actually peaked early last month (as mentioned in the column on October 9, 2018).
The department announced on Thursday that Quintal and Mumo were released following their detention on Wednesday. Rights groups and media advocates have expressed concerns about the freedom of expression in the country .
Tlaib took Michigan's 13th congressional district in a race in which she was the sole major party candidate. Ilhan Omar , a Somali-American Democrat who ran for the House in Minnesota, will join Tlaib in Congress.
The new rule comes as a so-called caravan of migrants from Central America travels north by foot through Mexico to the USA border. In 2018, border patrols have registered more than 400,000 illegal border crossers, homeland security said.
One of them had been condemned and, with its windows boarded up, was well-secured and in theory unoccupied, officials said . The neighbourhood is home to many buildings in a similarly poor condition, some of them run by slum landlords.
California wildfires are burning again, with the Camp Fire near Chico the latest large fire to erupt in Northern California. The dry heat and limited rainfall - in some places, no rainfall at all - contributed to the fire's spread. .
The Republican Party retained the control of the US Senate as the vote count for the US Midterm Elections 2018 continued. Democratic favorite Conor Lamb, who stunned Washington by winning a special election in the state, beat Republican Rep.
Competing the challenges earn rewards and Orichalcum to spend with Sargon at the Oikos of the Olympians legendary store. Even so, the developers have made clear their plans to release consistent content updates going forward.
According to U.S. media reports on Thursday, Mueller's team have started writing the final report of the investigation. Trump announced that former Sessions chief of staff Matt Whitaker would serve as acting attorney general.
The incident occurred at 4:26am (local time) on 8 November in Hjeltefjorden, north of Sotra, Norwegian Armed Forces said. The frigate is believed to be the KNM Helge Ingstad , which took part in NATO's massive Trident Juncture 2018 wargames.
California bar shooting: Ian David Long identified as suspect
Daniel Manrique was a native of Thousand Oaks and had served in Afghanistan with the Marine Corps, Task and goal reported. Meek was a criminal justice and criminology major who worked in the Veterans Resource Office for two years for work-study.
Midterm election a ‘big day’ for Republicans
Trump's aggressive campaign blitz, which paid off in some key victories, suggests he is likely to continue leaning into the fray. Spending to support candidates backing tougher gun control surged this year, even as campaign spending by the NRA declined.
Best Buy Kicks Off Black Friday Deals Early
The Bentonville, Arkansas-based retailer will have deals available on Walmart.com beginning at 12:01 a.m. Black Friday 2018 will take place on Friday 23 November, with thousands of goods set to be reduced.
Key House Democrat promises hearings on GOP tax package
And it seems highly unlikely any Republican will vote for the woman their party has demonized in thousands of campaign ads. The U.S. and Saudi Arabia have always been key allies, and Trump made the country his first stop overseas as president.
Arsenal held at home by Sporting
We'll have to wait for updates from Unai Emery after the game but let's pray it's not as serious as it seemed on TV. He is a very good person, his commitment to us is very big. "We are thinking how he can help us in the future".
China's Xinhua news shows off AI news reader
Xinhua News claims the presenter " can read texts as naturally as a professional news anchor ", though not everyone may agree. It's a question for perhaps the not-so-distant future, as China's state news agency unveils its first virtual news anchors.
Rajinikanth and Kamal Hassan responded on Sarkar Controversy
On Thursday, actor-politician Kamal Haasan had also strongly objected the actions of AIADMK government regarding the issue. They claim that the film is depicting their party and the late Tamil Nadu Chief Minister J Jayalalithaa in a bad light.
Cyber security expert calls for IoT regulation
What are the challenges to market growth? Manufacturing Cost Structure Analysis of Industrial Internet of Things (IIoT) market . Our database of market research reports comprises a wide variety of reports from cardinal industries.
Man: Age Change Will Improve Luck on Tinder
The life coach, who specialises in "self awareness" training, said he felt discriminated against because of his advanced years. He says that with his youthful face and an age of 49, he would get more dates, possibly with younger women.
MI added to top four in rankings
The problem is, they'll have to do it two times over to claim their 12th Big 12 title and fourth consecutive conference crown. If one of them wins the Big 12 with one loss, OSU's chances at making the playoff are diminished significantly.
Marine combat veteran kills 12 in California bar shooting
Neighbours said Thursday they would hear loud, aggressive fights between the two. "He looked like he knew what he was doing". Officers speculated Long, who had served in Afghanistan for seven months, was suffering from post-traumatic stress disorder.
People Injured, Deputy Shot At Bar In Thousand Oaks
After the shooting was over, Kelly said he and another Marine friend helped victims alongside first responders. He is originally from Coronado, Calif. "He was just a great guy, a gentle soul", Buschow said.