OPEC Members Insist Market Supply is Healthy, Take Jabs at Trump

Trump tweet biggest insult to US allies in ME: Iran

Oil prices hit a four-year high of $81.48 a barrel on Tuesday after Saudi Arabia and Russian Federation appeared to reject calls from the USA to increase production amid looming sanctions against Iranian oil.

With prices recently hovering around $80 a barrel for Brent crude, Trump has used Twitter and other means to lean on OPEC to increase oil supplies. US crude futures (CLc1) rose 20 cents to $72.28 a barrel, close to the highest since mid-July.

"This is the oil market's response to the OPEC+ group's refusal to step up its oil production", said Carsten Fritsch, commodities analyst at Commerzbank in Frankfurt.

Iran, OPEC's third-largest producer, has accused Trump of orchestrating the oil price rally by imposing sanctions on Tehran and accused its regional arch-rival Saudi Arabia of bowing to United States pressure.

"Our plan is to meet demand", said Saudi Energy Minister Khalid Al-Falih.

Puerto Rico marks 1 year since Maria with choirs, protests
Once there, they repaired and replaced roofs, windows and doors, in addition to sanitizing and removing mold from homes. Among them was a group of artists unveiling an exhibition called simply, "6:15 A.M".

Abdelmoumen Ould Kaddour, chief executive officer for Algeria's state-owned Sonatrach Group, told media that "Trump tweets are disturbing, but fortunately this time he did not have an impact on the OPEC decision; the price of oil is subject to many variables, not only the tweet from the president of the U.S". In fact, major oil traders say we could see it again, as markets brace for the loss of Iranian supplies. Asia should be well supplied by OPEC, Russia and the US going forward but many uncertainties including the US-China trade war and Iranian sanctions could offset the rise in supply, said Tor Martin Anfinnsen, senior vice president of marketing and trading at Equinor.

While output C-OUT-T-EIA remains around the record of 11 million barrels per day (bpd), recent subdued USA drilling activity points towards a slowdown.

Total primary energy demand is expected to increase by 91 million barrels oil equivalent per day (mboe/d) and reach 364,7 mboe/d in 2040, according to OPEC's World Oil Outlook for 2018.

USA crude oil production set a new record over the summer producing 10.8 million barrels per day.

The supply picture is looking increasingly worrying, with Venezuela and Iran the two principal factors driving up oil prices in the fourth quarter.

Joshua's Promoter: We'll Try For The Deontay Wilder Fight Again
Either way, Joshua is scheduled to have another fight at Wembley Stadium on April 13, 2019, but the opponent has not been decided. A fierce 7th round Anthony Joshua TKO ended the challenge of Alexander Povetkin in tonight's heavyweight bout in Wembley Stadium.

Mohammad Barkindo, OPEC secretary general, said in Madrid on Tuesday OPEC and its partners should cooperate to ensure they do not "fall from one crisis to another".

New inventory data from the US Energy Information Administration and Department, which will be released later this week, will be crucial in deciding the price curve.

The Saudis and their allies appear to be trying to walk a fine line between accommodating Trump and not putting so much oil into the market that prices crash - as they did in 2014, damaging their petroleum-dependent economies.

But he said the trade war between China and the USA as well as Trump's sanctions on Iran were creating new challenges for oil markets.

Mohamed Salah: Liverpool boss Jurgen Klopp not expecting goals repeat
A year ago he missed chances. "We don't expect that but we want him to score as often as possible". Yet the Reds boss said that he couldn't be happier with his star man.

Related News:

  • Trump at UNGA: US rejects globalism, embraces patriotism

    But even as the president champions what he calls America's " sovereignty ", aides insist his strategy is not simply go-it-alone. General Assembly on Tuesday, calling on world leaders to isolate Tehran and vowing to impose further sanctions on the country.
    Abhilash Tomy: Injured Indian sailor to be rescued 'soon'

    Abhilash Tomy: Injured Indian sailor to be rescued 'soon'

    Most of the 11 competitors still in the race were further north and avoided the worst of the storm, organisers said. According to the sailor's website, Abhilash Tomy was the first Indian to sail around the world in 2013.
    Late Firmino strike gives Liverpool win over PSG

    Late Firmino strike gives Liverpool win over PSG

    Liverpool had raced to a two-goal lead thanks to a header from Daniel Sturridge then a penalty from James Milner . I can't say enough good things about Bobby to come off the bench after his injury'.
  • Slight risk for severe weather this Tuesday evening

    Slight risk for severe weather this Tuesday evening

    The timing of these storms is a good thing, as their arrival earlier in the day should spare us from widespread severe weather. A stronger cold front will arrive overnight and eventually bring an end to the rain by midday tomorrow.
    Bishop Mulakkal arrested in Kerala nun rape case

    Bishop Mulakkal arrested in Kerala nun rape case

    The bishop has been charged under four counts including rape, illegal confinement and criminal intimidation. The Vatican's decision was welcomed by the nuns protesting against Mulakkal, reported PTI.
    Beto O'Rourke debate; first debate for Texas Senator tonight

    Beto O'Rourke debate; first debate for Texas Senator tonight

    Cruz drew the ire of many Texas conservatives for refusing to endorse Trump during the 2016 Republican National Convention. Democrats need to win a net total of two additional seats to take the Senate and 23 to assume the majority in the House.
  • Bill Cosby sentenced to prison for sex assault

    Bill Cosby sentenced to prison for sex assault

    Cosby's lawyers asked for house arrest, saying Cosby - who is legally blind - is too old and helpless to do time in prison. Ms Constand, now 45, said she has suffered with anxiety and self-doubt for years in a statement submitted to the court.
    Porsche to stop making diesel cars

    Porsche to stop making diesel cars

    Regardless of the reasoning, Porsche's decision to end diesel cars may prompt other companies to do the same. The German manufacturer says it'll concentrate on petrol, electric and hybrid engines.
    Bills win big in Minnesota, defeat Vikings 27

    Bills win big in Minnesota, defeat Vikings 27

    The Vikings netted 14 rush yards all game on a mere six attempts, and their long gain of the game was 17 yards. In the Bills' first two losses, Buffalo gave up 138 yards and two rushing touchdowns to backup running backs.
  • Rosenstein to meet Pres. Trump Thursday as job hangs in balance

    Rosenstein to meet Pres. Trump Thursday as job hangs in balance

    Sanders also wouldn't say that the president has confidence in Rosenstein but only that he has "confidence in the system". General Assembly, told reporters he would meet with Rosenstein on Thursday when he returns to Washington .
    Trump says second Kavanaugh accuser was 'drunk,' says Democrats playing 'con game'

    Trump says second Kavanaugh accuser was 'drunk,' says Democrats playing 'con game'

    Ashley Kavanaugh was asked whether she wondered if her husband was telling the truth about the allegations against him. Kavanaugh said Monday, "I never did any such thing". "Gee, let's not make him a Supreme Court judge".
    Liverpool want to be the ugliest team to play against, says Klopp

    Liverpool want to be the ugliest team to play against, says Klopp

    Mohamed Salah , Sadio Mane , Roberto Firmino and Xherdan Shaqiri galloped into the open field in front of them. Andrew Atherley expects the Liverpool defence to be the bedrock of three more points at Anfield on Saturday.


Most liked

Marco Silva: Arsenal's second goal was offside
He was about to take off Lacazette just before the French striker notched his superb second goal of the season in the 56th minute. Since his Premier League debut on February 3, only Liverpool's Mohamed Salah (16) has scored more goals than Aubameyang's 12.

Israel vows to continue operations in Syria
Putin held Israel responsible for the accident, in which the Russian aircraft was shot down by the Syrian air defenses. The province is home to some 3 million Syrians, half of them displaced by violence in other parts of the country.

Instagram Cofounders Systrom, Krieger To Exit 09/26/2018
Systrom did not say why he and Krieger are leaving Facebook, which is facing one of the most turbulent times in its history. Instagram attracts a younger cohort of users who are critical to Facebook's growth.

Pogba, Mourinho relationship at new low as United lose to Derby
The poor run of form has come following a hard transfer window in which Mourinho repeatedly voiced his desire for more backing. Asked what was stopping United from attacking, Pogba replied: 'I can't tell you because I'm a player.

Chelsea flop needs regular games to be a success at Stamford Bridge
Chelsea midfielder Jorginho broke a Premier League record with his performance against West Ham United on Sunday afternoon. Sarri has admitted the responsibility is on Chelsea and other Premier League clubs to clamour for the change.

Timberwolves sign Towns to extension
He played in 59 games for the Timberwolves last season, averaging 22.2 points, 5.3 rebounds, 4.9 assists and 2.0 steals per game. Butler's contract is set to expire after this season and Thibodeau was looking to lock him up on a long-term contract last July.

Amid Trump's Trade War with China, Beijing Slashes Tariffs on Imports
There's not much he can do about paying the 10 percent duty, or $30,000, on those vehicle-lighting parts. Those places are most affected which depended on United States order books mainly.

Rosenstein, expecting to be fired, heads to White House
Deputy Attorney General Rod Rosenstein has offered his verbal resignation to Chief of Staff John Kelly , Axios reports . Others suggested restraint while seeing if the report was incorrect or if it was planted by some adversary.

Leak confirms Amazon Alexa-powered subwoofer
So if you're buying two Echo Plus speakers and the Echo Sub , the total comes out to ₹42,997, but you can get it for ₹32,248. Featuring Bluetooth to connect to an existing Echo device, you can use the Wall Clock to set timers, alarms and reminders.

Amazon unveils new Alexa-powered microwave
The next Echo Show now features a high-resolution 10-inch HD display, 8-microphone array, and powerful drivers for better sound. Amazon says the preferred method to hook up Echo Auto is via Bluetooth or an auxiliary jack, which many modern cars possess.

Police Release Identity of Suspected Maryland Shooter
CNN reports that residents in the area of the shooting were very surprised that something so tragic could happen so close. Police refused to release details of the suspect, but multiple media outlets suggested the shooter may have been a woman.

Disappointed Imran describes Indian leadership as 'small men occupying big offices'
He also compared the Indian leadership to "small men occupying big offices who do not have the vision to see the larger picture". Prime Minister Imran Khan took took to Twitter to express his disappointment at India's reluctance to hold talks with Pakistan .

United defence for accused pick for Trump top job Brett Kavanaugh
Trump chose Kavanaugh to fill the vacancy on the Supreme Court created by the retirement of Justice Anthony Kennedy. Democratic Senator Kirsten Gillibrand denounced Trump's comments on Friday as a " vile attack ".

Emery targets defensive stability as Arsenal claim win in Europa League opener
But the visiting side from Ukraine pulled two late goals back to leave Emery's team without a single clean sheet this season. But maybe one day we don't score our chances and we keep giving the opponent many chances - we can lose our match.

Maurizio Sarri calms Pedro injury fears after PAOK win
And midfielder Willian added: "The way we play we can try to win titles". "I don't know", he said. West Ham face Chelsea this weekend at The London Stadium hoping to build on their momentum.