Brent price forecast to US$66 per bbl for 2019: Jadwa Investment
Brent price forecast to US$66 per bbl for 2019: Jadwa Investment
Venezuelan opposition readies U.S. fund to receive oil revenue
08 February, 2019, 00:25
Oil prices rose on Wednesday after data showed US crude inventories rose less than expected.
USA crude inventories rose by 2.5 million barrels last week and gasoline stocks also increased, the American Petroleum Institute said.
Meanwhile, U.S. sanctions against Venezuela's oil industry are expected to freeze sales proceeds of Venezuelan crude exports to the United States.
Saudi Arabia, the world's top oil exporter, told OPEC it had pumped 10.24 million barrels per day (bpd) in January, two OPEC sources told Reuters, exceeding requirements agreed in the supply pact.
Brent crude, the global benchmark, slipped 49 cents to $61.49 a barrel as of 1053 GMT.
Oil prices fell on Monday after disappointing USA factory data sparked fresh concerns about a slowdown in the global economy, but losses were limited as OPEC-led supply cuts and US sanctions against Venezuela pointed to tighter supply.
In gasoline, the authority reported a build of 500,000 barrels, with daily production at a little less than 9.9 million barrels.
So What Did the Kate vs. Meghan Special Decide? There are automated tools which help police the very inappropriate comments getting through, but there is also manual moderation. A source close to Mr Barr revealed: " Meghan has been having regular acupuncture sessions to help her unwind and relax".
New Zealand vs India India will be buoyed following their 4-1 win in the recently-concluded ODI series but history doesn't favour the Asian giants. Dinesh Karthik is also expected to prove his mettle in order to retain his place in the World Cup squad.
The sanctions will sharply limit oil transactions between Venezuela and other countries and are similar to those imposed on Iran previous year, experts said after examining details posted by the Treasury Department.
The key story supporting the market and driving the price action is the OPEC-led production cuts.
Earlier, oil price came under pressure following weekly data showing rise in U.S. stocks. The surge comes shortly after Washington slapped sanctions on the Venezuelan state oil company PDVSA. Venezuela, an OPEC member, is like Iran and Libya exempt from making voluntary curbs under the deal. A stronger dollar makes greenback-denominated commodities more expensive for holders of other currencies.
About a dozen tankers carrying over 7 million barrels of Venezuelan crude and products were anchored this week at the U.S Gulf Coast waiting for directions on how to pay for the cargoes following the sanctions, according to Refinitiv Eikon data.
Global economic worries have weighed on market sentiment in recent days, offsetting support from signs that global supplies are tightening. Oil prices fell on Tuesday after a survey showed euro zone business expansion almost stalled in January.
U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin will lead a delegation to Beijing next week to lay the groundwork for a meeting between Presidents Donald Trump and Xi Jinping later this month.
But Schiff said Wednesday morning that the interview had been postponed to February 28 "in the interests of the investigation". Cohen begins a three-year prison sentence in March after pleading guilty to campaign finance violations and lying to Congress.
The New Year's Eve dinner is considered an occasion for Chinese families to gather for the annual "reunion dinner". Qian's hometown, Suzhou in the Southern China , uses many traditional Chinese New Year customs from the region.
To cap off their anger toward Bud Light , National Corn retweeted a tweet suggesting you should not make them angry. The ad was meant to be amusing but the National Corn Growers Association, or NCGA, wasn't laughing.
This is being organised by the UAE Council of Elders where the pontiff will be projected as the "star of religous tolerance". Pope Francis' trip has been warmly welcomed by Filipino and Indian Catholics among the UAE's huge migrant workforce.
Be sure to let us know down in the comments. "We want this to be a ten-year game", design director Mackey McCandish tells VG247". We suspect that in the three hours leading up to the presentation we'll likely learn a few more key details about the game.
It's a free-to-play battle royale that, interestingly, won't let you use the Titan mech suits that make Titanfall so iconic. Crafting Metals, meanwhile, can be obtained in Apex Packs, and they are used to unlock weapon skins and other cosmetics.
Unlike ripping off a band-aid, this decision will shape the future of the New Orleans Pelicans franchise for the next decade. I guess we'll just have to see what, if anything, Davis, Rich Paul and Klutch Sports have left up their sleeve.
Alphabet is the last of the so-called Faang - Facebook, Apple , Amazon, Netflix and Google - to report its quarterly earnings. The company's operating margin, a closely watched measure of profitability, was 21 percent, down from 24 percent.
In 2017, the Trump administration announced it was reinstating a ban on transgender people serving in the USA military. Addressing the Venezuela crisis he will say: "We stand with the Venezuelan people in their noble quest for freedom".
The superstar almost recorded a triple-double as he scored 24 points, recorded 14 rebounds, and dished out nine assists. Earlier in the day, the Lakers great was listed as being iffy to "doubtful" to play this evening against the Clippers.
Marc Gasol headed to Raptors as trade deadline heats up
Memphis let Zach Randolph and Tony Allen leave in 2017 after the franchise's seventh straight postseason appearance. Memphis also reportedly traded JaMychal Green and Garrett Temple to the Los Angeles Clippers on Thursday.
Facebook Messenger will finally let you unsend your messages
Just recently , the social networking app was criticized for paying minors to access their phone data, the Deseret News reported. As of Tuesday, the ability to delete messages from one's chat history will be rolling out around the world on iOS and Android .
Australian city threatened by tornadoes after devastating floods
She said the total damage bill was likely to cost "hundreds of millions of dollars because of the scale of it" in a long recovery. And Queensland environment minister Leeanne Enoch has even warned locals to watch out for snakes, who are very good swimmers.