Oil futures rallied about 2 percent on Wednesday as USA crude inventories unexpectedly fell and an official forecast of crude oil supply growth from the world's top producer was revised lower.
Brent crude futures were at $65.04 per barrel, up 30 cents, or 0.5 per cent. In 2020, production is expected to reach 13.03 million barrels a day - 170,000 barrels a day lower than last month's estimate.
Oil prices rose on Wednesday, pushed up by ongoing supply cuts from producer cartel OPEC and USA sanctions against Iran and Venezuela.
"This is just the beginning", says Phil Flynn of Price Futures Group.
Brian Hook, the State Department's special representative on Iran, said in remarks at the CERAWeek energy conference that due to a global oil surplus - in part due to record US production - the United States is accelerating its plan of bringing Iranian crude exports to zero. "It looks very supportive as refiners come out of maintenance".
U.S. West Texas Intermediate (WTI) crude oil futures CLc1 were at $57.08 per barrel at 0746 GMT, up 29 cents, or 0.5 percent, from their last settlement.
On Tuesday, the EIA revised down its estimate for domestic crude production growth in 2019. Saudi Arabia's commitment to OPEC's deal to reduce output supported prices, with the producer said to be planning to supply customers with less oil than requested in April.
India has already built 5.33 million tons of underground reserves in three locations, which can meet 9.5 days of the country's oil needs.
The International Energy Agency said USA shale oil will make up 70pc of the extra global crude supply by 2024, eating into the market share of Opec and Russian Federation.
In Venezuela, oil production and exports have been disrupted by a political and economic crisis that has caused massive blackouts and supply shortages, while Washington has barred USA companies from doing business with the Venezuelan government, including state-owned oil firm PDVSA.
Saudi's participation in the Indian Strategic Petroleum Reserve program was discussed at a meeting between the kingdom's Energy Minister Khalid Al-Falih and his Indian counterpart Dharmendra Pradhan in New Delhi on Saturday, according to a government statement on Sunday.
Bridgewater chooses Saints over Dolphins According to multiple reports, the Dolphins attempted to land Tyrod Taylor before he signed with the Los Angeles Chargers. Bridgewater, 26, was drafted by the Minnesota Vikings in the first round of the 2014 National Football League draft.
Planned protests include a march to the Scottish Parliament in Edinburgh and a gathering in Glasgow's George Square. School spokeswoman Dana Smith said parents are urged to discuss the protest with their children.
However, my T-Mobile data connection at home wasn't fast enough to actually play anything, but I was able to get connected. The extended Steam Link service (now called Steam Link Anywhere ) is currently in early beta, but accessible to all .
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Under the Wi-Fi section, you can share the password in the form of a QR code, or read one such QR code to connect to Wi-Fi. If you are on your Pixel smartphone, it is still possible to activate this mode, but of course it won't be optimal.
Under global rules, Ethiopians are leading the investigation but France's BEA will conduct black box analysis as an adviser. The Max 8 that crashed on Sunday was one of 30 ordered as part of Ethiopian Airlines' expansion.
The researchers have utilized drilled specimens of ice or ice cores to search clues about former solar storms. 774-775. Solar storms consist of high energy particles released from the Sun by flare up on the star's surface.
Elon Musk, Chief Executive of Tesla has plans of selling more examples of Model Y as compared to Model 3 and Model S combined. The Model Y wasn't hiding a truck, the Model S and X aren't refreshed, and at the end of the event, it was just the Model Y.
The Eagles re-signed defensive end Brandon Graham to a three-year deal prior to the veteran hitting the free agent market. That's good, but it's concerning that Tate's two-worst-graded seasons (since his rookie year) have come in 2018 and 2016.
Walking through the Reagan National Airport in D.C., Dawson confirmed the news for a TMZ cameraman as she laughed and blushed. When asked if she would make a nice first lady, he answered yes but dodged further questions about marriage.
They've also reportedly urged others to refuse doing interviews with production house Pulse Films , who's making the series. We are aware that Netflix are planning to screen a documentary in March 2019 about Madeleine's disappearance.
Facebook: two top executives to leave company
A long-time Zuckerberg confidante, Cox's departure timing suggests he may not have been on board with the new corporate vision. Cox gained greater oversight of WhatsApp and Instagram following the exits of their founders over the last two years.
Shots fired at New Zealand mosque, casualties reported
In a 74-page manifesto published online he outlined who he was and why he carried out the massacre at the Christchurch mosque. A video circulated on social media which appears to be of the gunman entering the Masjid Al Noor mosque, and opening fire.