Feb 05 2018
USA crude oil production is at its highest levels since 1970 and has nearly doubled over the past decade, according to data from the federal Energy Information Administration released Thursday. The supply side of the oil market is getting stronger. So the total lag from a change in prices to a change in production can be six to 12 months especially once delays in reporting are taken into account.
The agency, whose next forecast is scheduled for release February 13, estimated that oil stocks held by OECD nations as of November were about 90 million barrels above the five-year average that OPEC has said it is targeting with its cuts.
The production values presented here are based on EIA's monthly survey of crude oil production, which, for reasons explained in a webinar presented earlier this week, are considered more comprehensive and reliable values of US crude oil production than the preliminary estimates presented in EIA's Weekly Petroleum Status Report.
Crude oil prices shot back toward the $70 mark early Thursday after reports of a drain in gasoline inventories as traders shrugged off big USA oil gains.
In 2017, world production was estimated at 97.3 million b/d, and this could reach more than one hundred million b/d by 2019 depending on the growth in USA production and whether OPEC members comply with a 2017 production agreement that curtailed supply. A month earlier, production was at 10.013 million barrels per day.
The US Energy Information Administration issued figures this week, slightly below records set back in November 1970, looking to overtake Russian Federation and Saudi Arabia as major producers. USA crude exports to Asia accounted for 35 per-cent of the total in the first eight months of 2017, a figure that grew to 40 percent in September and October.
Los Angeles faculty capturing by woman, 12, 'was unintentional'
The shooting happened at Sal Castro Middle School and was reported to police at about 8:55 a.m., according to the network. The Salvador Castro campus, which is situated next to a high school, has now been declared safe by authorities.
Trump says Democrats are 'AWOL' on immigration
Durbin, D-Ill., has forcefully rejected the White House plan. He's also attacking Democrats for not supporting his agenda. The top Senate Democratic negotiator, Richard J.
Will Ronda Rousey Elevate or Overshadow Women's Wrestling in WWE?
Nikki hadn't competed since WrestleMania , but she was the final person eliminated after entering at No. 27. Jason Powell, editor of ProWrestling, said it'll still be tough to get UFC fans to follow her to WWE .
Just two days after President Trump proclaimed the end of thefederal government's war on energy produced in the US, the Department of Energy's Energy Information Administration announced domestic crude oil production has reached record levels.
Oil jumped after Goldman Sachs Group Inc. boosted a price forecast by a third and said global crude markets have probably rebalanced.
Brent for April delivery traded up 52 cents at Dollars 69.41 a barrel at 11:45 a.m.in London after earlier rising to USD 69.67. WTI prices were about $60 a barrel in January 2018. The rocky mountain region of the U.S.is known for its shale oil production.
"There's no doubt shale players will respond to higher prices", says Jan Edelmann, commodity analyst at HSH Nordbank AG.
Production and price projections may become more clear over the next few weeks as energy companies report 2017 earnings and provide more insight on 2018 drilling budgets. If you look at the production as oil prices have soared, it's very evident that these producers want to cash in.
Feb 04 2018
Polar bears could face extinction faster than thought, study says
But he added, "I think it confirms all the reasons to be concerned about polar bears from a conservation perspective are intact". Satellite telemetry shows several tagged polar bears moving long distances to remain on receding sea ice in July 2016.
Feb 01 2018
Shopian army firing: Third civilian dies of bullet injury
A Junior Commissioned Officer (JCO) accompanying the convoy was hit on his head and fell unconscious suffering serious injury. Meanwhile, the army on Wednesday filed a counter FIR over the attack on its personnel by the mob.
Feb 01 2018
Nokia 3310 4G casually goes official in China, commercially launching next month
Above all, it also supports VoLTE as well as WiFi hotspot which is not present in the Jio Phone by Reliance Jio . It will be available in China and supports TD-LTE, the possibility of an global version is up in the air.
Feb 01 2018
United States names Hamas leader as terrorist
The U.S. has added the leader of Hamas to its list of worldwide terrorists, ratcheting up pressure on the Islamic terror group. The movement's leaders said they considered the USA decision as "ridiculous".
Feb 01 2018
Amazon, Berkshire Hathaway and JP Morgan to set up healthcare firm
But we also do not accept it as inevitable. "The solution will reportedly be 'free from profit-making incentives and constraints". Amazon's entry into the health market has been perceived as imminent, even though the company had announced nothing publicly.
Jan 31 2018
Russian team banned from Winter Paralympics, athletes to compete as neutrals
Beucher claimed the IPC had been influenced by external pressure to create a way in which Russian athletes can compete. The IPC said in a statement that "it is maintaining the suspension of the Russian Paralympic Committee (RPC)".
Jan 31 2018
Iranian women protest obligatory headscarf; Twitterati praise the bravery
The woman, reportedly a 31-year-old mother, broke the law by exposing her hair in public, risking arrest and fines. Women are only allowed to show their face, hands and feet in public and are supposed to wear only modest colours.
Jan 30 2018
Cardi B Freaking Out Over A Note From U2's Bono Is Priceless
HollywoodLifers , are you excited for Cardi's performance? This is fu**ing Bono and he knows me. Cardi B wears Christian Louboutin at the 2018 Grammy Awards . "I am pretty nervous.
Jan 29 2018
Recommendation Hold on Basic materials stock: Freeport-McMoRan Inc. (FCX)
To measure price-variation, we found CRSP's volatility during a week at 10.67% and during a month it has been found around 9.56%. What do the trading volumes reveal? Volumes indicate how many shares are bought and sold over a given period of time.
Jan 29 2018
Pochettino questions Tottenham motivation after FA Cup escape
But it's about in the next few days to see if we have some possibilities with some players. We showed the ambition and the decision to play.
Feb 04 2018No One's Buying Pep Guardiola's Excuse For Having Just Six Substitutes
Feb 04 2018Uma Thurman Shares Intimate Details About Harvey Weinstein Assault
Feb 02 2018Computer chips reason for Samsung's record profit
Feb 01 2018German carmakers funded studies that made young people huff emissions
Feb 01 2018Muslim scholar questioned by French police over rape claims
Feb 01 2018Alex Smith traded by Chiefs to Redskins, sources say
Jan 30 2018Nokia 2 to receive Android 8.1 Oreo update soon
Jan 29 2018Carrie Fisher wins Grammy Award for 'The Princess Diarist'
Jan 29 2018Carson Wentz ditches cane, showing progress in ACL rehab
Jan 29 2018Putin opposition leader Alexei Navalny arrested after organizing fair election protests
Feb 04 2018Russian fighter plane shot down by Syrian rebels who 'capture pilot'
Feb 03 2018Man given life for Finsbury Park terror attack
Feb 03 2018Leicester City boss Claude Puel: 'Tough to manage Riyad Mahrez situation'
Feb 02 2018Boeing Gets $6.6 Billion From Pentagon To Expand Missile Defense
Feb 01 2018Besser Museum to Hold Lunar Eclipse Party Wednesday
Feb 01 2018India's preference for boys has produced 21 million "unwanted girls"
Feb 01 2018Amazon's Alexa can now send SMS messages to any phone
Jan 31 2018Prince William, Kate Middleton take a shot at bandy in Sweden
Jan 30 2018Seine still rising in Paris; Louvre partially closed
Jan 30 2018Chris Stapleton to perform 2 Upstate NY shows
Jan 29 2018Macron's "France is Back" Speech Makes Plea for European Unity
Jan 28 2018Most wanted gangster Vicky Gounder, aide killed in encounter