Iran's Oil Production, Exports Not Impacted By Protests
03 January, 2018, 01:55 | Author: Edward Snyder
"Geopolitical risks are clearly back on the crude oil agenda after having been absent nearly entirely since the oil market ran into a surplus in the second half of 2014", Bjarne Schieldrop, chief commodities analyst at SEB, said, also citing Kurdistan and Libya.
WTI prices were supported by data from the U.S. Energy Information Administration late on Thursday showing domestic oil production C-OUT-T-EIA declined last week to 9.75 million barrels per day (bpd) from 9.79 million bpd the previous week.
Anti-government protests in Iran have fueled uncertainty in the global oil market.
Lipow said he expected USA crude prices to creep up to around $63 a barrel by the end of next year, while Brent would remain around $67 a barrel as US oil exports rise to record levels. That's about $12/barrel more than a year ago. Brent crude futures hit US$67, highest since May 2015 on Tuesday following fears of a supply glut.
A possible rise in USA oil production may pose a threat to higher oil prices.
The 14-member cartel, Russian Federation and nine other crude producers announced plans to extend their output cuts until the end of 2018. Iranian oil industry and shipping sources said protests have had no impact on oil production or exports so far.
Moody's believes North American exploration & production companies, after strong capital investment in 2017, will aim for profitable growth within existing oil acreage and cash flow in the new year, with improvement favouring companies with the greatest exposure to the best acreage and producers in the Permian Basin leading the way.
In global markets, China has issued crude oil import quotas totalling 121.32 million tonnes for 44 companies in its first batch of allowances for 2018.
Oil markets have been supported by a year of production cuts and strong demand from China.
They entered 2017 with high expectations but completely flopped, going just 6-10 while disappointing across the board. This was Del Rio's second try as a head coach after spending nine seasons with the Jaguars from 2003-2011.
Pence, who describes himself as a Christian, a conservative, and a Republican (in that order), has long held anti-LGBTQ views . In 2006, Pence supported a constitutional amendment that would have defined marriage as between a man and a woman.
Temperatures drop down into the low teens tonight but winds at 10-15 miles per hour will make it feel like the negatives. Northwest Missouri and northeast Kansas are starting off the new year with bone-chilling temperatures Monday morning.
A spokesman for the public health ministry, Waheed Majroh, said blasts left at least 41 people dead and 84 injured. In October, at least 39 people were killed in an attack on a mosque belonging to the Shia minority.
She led the country from back-to-back civil wars and saw it through a deadly Ebola outbreak that killed almost 5,000 Liberians. His election success was noted with pride by former clubs Monaco, Paris Saint-Germain and AC Milan.
Adults and children fled from the three stories of apartments above, including a man who ran outside with no shirt and no shoes. At least 12 people were injured early on Tuesday after a huge fire tore through an apartment building in NY , reports said.
Weah was declared the victor of Liberia's presidential election run-off on Friday, the country's elections commission confirmed. Liberia's president-elect and ex-soccer star George Weah says he is "honored to join a new generation of heads of state".
This was a huge problem between the two ladies, but fortunately, they finally managed to sort things out and reconcile. In March 2017, Selena and Mandy walked the red carpet together at the premiere 13 Reasons Why as executive producers.
He also said that "as long as there's no aggression against" North Korea, it does "not intend to use nuclear powers". Leader Kim Jong Un says North Korea completed its nuclear force in 2017 and the US must know it is a reality.
We trusted him from day one here because we felt the potential and he deserves full credit for all he has achieved". Shearer believes Kane could be a one-club man and Pochettino compared him to Roma legend Francesco Totti.
The BJP wrested power from the Congress , winning close to a two thirds majority with 44 seats in the 68-member Assembly. After being slapped, in a shocking way the police constable retaliated and slapped the MLA Asha Kumari back.
Second of supermoon trilogy 'wolf moon' set for skies tonight
On Jan. 31, the moon will rise at 4:54 p.m. and be visible for almost 10 hours. 2018 will also bring another blue moon in March. From two supermoons, a meteor shower to a lunar eclipse, here's a list of astronomical events for the first month of 2018.
Daughter of NYPD chokehold victim dies
Palanteo was charged with causing Garner's death, but a grand jury declined to indict him . Garner had an 8-year-old daughter and a 4-month-old son, whom she named after her father.
Winston, Bucs stun Saints in season finale
He dropped the New Orleans signal caller for a loss of seven on third-and-3 that forced the Saints to give the ball back. New Orleans Saints running backs Mark Ingram and Alvin Kamara have combined to have outstanding seasons.
Region under wind chill warning
The temperature will rise to about minus 3 on Sunday but wind chills will be as low as minus 32 in the Pierre area. The coldest times will be each night and morning from sunset on New Year's Eve through midday Tuesday .