Saudi won't up oil export in July in blow to Trump
Saudi won't up oil export in July in blow to Trump
Chairman of the Joint Technical Committee and Saudi governor for OPEC Adeeb Al Aama in this file
21 July, 2018, 15:43
Oil prices fell on Thursday after official data showed an unexpected rise in U.S. crude stockpiles, U.S. output hit a record high and major oil exporters increased production. The expiring U.S. West Texas Intermediate (WTI) crude for August delivery was up 41 cents at $69.87 a barrel, while the more traded September contract fell 8 cents to $68.16.
Oil markets have fallen over the last week as Saudi Arabia and other members of the Organization of the Petroleum Exporting Countries and Russian Federation increased production and as some supply disruptions eased.
He also said concerns that Saudi Arabia and its partners are moving to substantially oversupply the market are "without basis". India, the world's fastest growing oil user, could bridge the surplus by up to $4 billion through oil imports alone, government officials said in April.
"With Russia quick to offer the President a supply olive branch and Saudi Arabia mainly in his back pocket when it comes to increasing their supply, its challenging to see (the) gasoline numbers turning the bearish market's tide", he said.
-China trade war and the specter of mounting supplies from Saudi Arabia, the US and Libya triggered concern about renewed oversupply. This making traders nervous because it suggests not only a trade war, but a currency war may be brewing.
Ambassador move could lead to impeachment, Congressman says This is the reason why he has spent so much time with his administration making sure that this doesn't happen again. "I've had it. But during his CBS chat on Wednesday, Trump went as far as saying he personally confronted Putin when they met in Helsinki .
Although global demand for oil is growing, OPEC has tried to control the call for more oil to inflate prices - which is good for the OPEC economies but bad for everyone else. Natural gas does not trade in the same way oil does in the global markets, making OPEC-like arrangements extremely unlikely between any countries.
The official's sentiment is a major step back from the bold USA policy objective of reducing Iranian oil exports "to zero" following President Trump's withdrawal from the Iranian nuclear deal in May. United States crude prices had reached a session high of $70.17 earlier in the trading day. The objective is to bring down oil prices-and gasoline prices-ahead of the mid-term elections in November, the same month in which the renewed US sanctions on Iran are returning.
Gasoline stocks rose by 425,000 barrels, compared with expectations in a Reuters poll for a 44,000-barrel decline.
Prices also received a boost after OPEC's largest oil producer, Saudi Arabia, said it would temper its exports next month.
OPEC had announced it would add 1 million bpd of crude to the market.
The president also famously called North Korea an " extraordinary threat " to the U.S. , justifying more pressure on Pyongyang. Rodman and West have both praised US President Donald Trump and have both been seen wearing "Make America Great Again" caps.
Repeatedly, the answer was "No", even when Anderson smacked a return victor at Isner's feet to get to break point at 7-7, 30-40. Second-seeded Rafael Nadal and 12th-seeded Novak Djokovic took the court after Isner and Anderson, about 8:10 p.m. local time .
The military denied the accusations, and said its assistance had been requested by Pakistan's election commission. The army will deploy 350,000 security personnel to polling stations throughout the country on election day.
Her body was discovered three days later northeast in a ditch along Country Road 68 in Spencerville. "I will kill again" (sic). April's body was found in a ditch 20 miles from her Fort Wayne neighborhood three days after she disappeared in April of 1988.
Trump maintained Tuesday's summit with Putin went "even better" than his meeting with North Atlantic Treaty Organisation allies. Speaking at the White House on Tuesday, Trump said he misspoke when he addressed reporters in Helsinki a day earlier.
Emery has been revamping his squad at The Emirates as he prepares for his first season in charge of the north London club. The Telegraph has claimed that a whole host of Arsenal first-team players face uncertain futures in the coming weeks.
Trump also said that his administration would work to ensure that no election meddling would taks place this November. My people came to me, (director of national intelligence) Dan Coats came to me and some others.
Phoenix awarded NCAA Final Four in 2024
Plans already are underway by the city for additional improvements to the Alamodome before the next Final Four, Carnes said. Carnes was surprised that the NCAA awarded the 2025 Final Four to the Alamo City.
Prime Day drives record traffic to Amazon's Australian site
Shoppers, meanwhile, have lots of sales to choose from as other retailers offer promotions to try to take a share of the spending. Some 49.1 percent of online retail sales go through the e-commerce giant, eMarketer found, up from 43.5 percent previous year .
Toronto Raptors "In The Driver's Seat" For Kawhi Leonard
The Lakers seemed eager to acquire Leonard before they signed James, but have been unable to meet the Spurs' hefty price tag. Additionally, Leonard would be ineligible for a supermax contract if he signs with a new team as a free agent next summer.