Ranveer Singh shares official Padmaavat release announce poster
Jeff Bezos Is Now Richest Person In History
Minimum wage increases; paid family leave starts January 1
NH decides to opt in to FirstNet after all
Coinbase gets MAJOR update, bringing support for Bitcoin Cash transactions
Oil Prices Drop 5 Percent after OPEC Meeting in Vienna
04 June 2017, 06:26 | Vickie Mathis
It's set to be a bright start here in London
Khalid Al-Falih said he expected a "healthy return" for USA shale and remained defiant that a boom in US shale won't derail OPEC's effort to tackle the demand and supply imbalance.
"Both Brent and WTI traded around one-month highs ahead of the OPEC meeting, but were tempered when Saudi Arabia'soil minister played down further reductions in any new OPEC output deal".
Well then - it looks as though OPEC, Russia and other major oil producers have agreed this week that they are going to hold their collective brush power for another nine months.
Concerns remain that OPEC-led production cuts will support a further rise in output from the USA, where producers can operate at much lower costs.
USA crude prices were down 0.84 per cent at US$50.93 a barrel even as Organization of the Petroleum Exporting Countries delegates said that the producer group had made a decision to extend cuts to March. Crude oil prices fell quite sharply in the aftermath of this announcement however, with many investors clearly having hoped for more aggressive cuts.
Brent crude futures were at $51.09 per barrel at 0348 GMT, down 37 cents, or 0.7 percent, from their last close.
In any case, given the seasonal increases in demand in the second half of the year, the company believes that a nine-month extension should be more than enough to bring stocks down to their five-year average.
However, an exemption would automatically undermine OPEC's effort to push up prices by extending the cut agreement, OilPrice indicated.
OPEC accounts for a third of global oil production and includes numerous world's largest oil exporters such as Saudi Arabia and Qatar.
Year to date, USO has added more than $125 million in new assets, but there are some signs traders are growing exhausted of the fund from the long side as USO lost almost $15 million in assets since the start of the current quarter. Beyond bloated inventories, one of the main reasons markets have not tightened more has been USA oil production, which has soared more than 10 percent since mid-2016 to 9.3 million bpd. Falih informed that OPEC members Nigeria and Libya would still be excluded from cuts.
John Clayton the latest casualty of layoffs at ESPN
ESPN declined to comment on the matter for The Post and Clayton has not responded to a request for comment. The Sporting News report notes that KIRO is owned by Bonneville International, and licenses the ESPN name.
To many, Memorial Day has lost its meaning
The date of Decoration Day, as he called it, was chosen because it wasn't the anniversary of any particular battle. If you're a bit hazy on the difference between Memorial Day and Veterans Day , you're not alone.
North Korea says ballistic missile test successful
As a result, North Korea is stepping up its development of advanced weapons that would allow the country to defend itself. Prior to Tuesday, the USA military had conducted 17 tests of its missile-defense system and nine were successful.
James passes Jordan, Cavs back in Finals with 135-102 win
Aside from a Game 3 upset after losing Thomas to a hip injury, the Celtics lost by margins of 13, 44, 13, and 33 points. Turns out Irving was just getting warmed up en route to scorching."Very unstoppable", is the way Lue described Irving.
Palestinian stabs Israeli officer, is shot
Trump left for Jerusalem after the welcome ceremony for his meeting with Israeli president Reuven Rivlin at the President's House. The status of Jerusalem is ultra-sensitive and has been among the most hard issues in Israeli-Palestinian peace talks.