Oil demand growth seen slowing for a second year
In a monthly report released Wednesday, OPEC said its output continued to fall in March, but the cartel raised its 2017 forecast for supply growth in the U.S.by 200,000 barrels a day.
Prices were boosted after the IEA said production cuts by major exporters offset a longer-term decline in global demand.
The IEA projected the oil market would likely tighten throughout the year as non-OPEC oil production, not just in the USA, is forecast to increase once again.
Then in December, non-OPEC producers led by Russian Federation agreed to cut their own output to 558,000 barrels per day.
The rebound in US oil output has threatened to derail efforts by the world's largest exporters aimed at reducing a global supply glut and rebalancing the market.
Prices had been nearly unchanged earlier in the day as concerns over rising USA production offset support from data showing the first weekly drawdown in US oil inventories in a month.
While output curbs by nations including Saudi Arabia and Russian Federation have bought markets "very close to balance", stockpiles still climbed because of supply increases before a six-month deal between the producers took effect January 1, the IEA said in its monthly report.
Glass, Lundqvist help Rangers beat Canadiens 2-0 in Game 1
Letang got better as the playoffs went on a year ago, eventually garnering some Conn Smythe consideration for his fine play. To find success, the Rangers will need to capitalize on power play chances that will likely come few and far between.
Google blocks invasive Burger King ad from taking over Google Home
If you want to cut to the chase and just see how this ad works, hit the source link below for a video of the ad in action. It's not the first time virtual assistants have been activated by the television - to the profound annoyance of users.
CSU forecasters issue outlook for 2017 hurricane season
Last year's hurricane activity was above normal in terms of activity, the National Oceanic and Atmospheric Administration said. Preparedness is paramount because it only takes one storm or hurricane to make landfall and cause significant damage.
Even after taking into account production cut pledges from the eleven non-OPEC countries, unplanned outages in Canada as well as in the North Sea, we expect production will grow again on a year-on-year basis by May.
The net result is that global stocks might have marginally increased in 1Q17 versus an implied draw of about 0.2 mb/d. New data shows weaker-than-expected growth in a number of countries including Russia, India, several Middle Eastern countries, Korea and the United States, where demand has stalled in recent months.
Brent for June settlement rose 3 cents to $55.89 a barrel on the London-based ICE Futures Europe exchange.
With the increasing rig count pointing to rising supply, Tony Headrick, energy market analyst at CHS Hedging, said OPEC would be watching.
The combination of factors could keep a lid on oil prices, which have risen in the past six months after a three-year slump.
"Even at this mid-way point, we can consider what comes next" to the output deal, the IEA says.
CA upholds guilty verdict on Pemberton
Pemberton met Laude at the Ambyanz Disco in Olongapo City on October 11, 2014, following which they checked into a local motel. The American's lawyer Rowena Garcia-Flores said that Pemberton's camp would elevate the case to the Supreme Court.
Five bodies found after Canada snow slide
On its Facebook site, North Shore Rescue describe the call out as a "possible code Alpha", which normally relates to an avalanche. He said it appears the group stepped out on the ledge, or cornice, of unsupported snow and it collapsed under them.
Greenpeace urges Coca-Cola to drop `throwaway plastic´ in bid for cleaner oceans
Ltd. now owns 766,872 shares of the company's stock worth $32,320,000 after buying an additional 140,867 shares during the period. According to sentiments of 17 analysts the company is expected to report revenues of $8.89B for the current quarter.
Yankees notebook: Pineda nearly ideal , Sanchez out 1 month, more
Pineda (1-1) entered New York's home opener with a 9.82 ERA after not making it past the fourth inning on Wednesday in Tampa Bay . In his first outing this year, Snell put up a loss against Toronto with 6.2 innings, three hits and four earned.
Wednesday, April 12th Forecast: More showers today along with gusty south winds
Wednesday and Thursday will both be warm and dry day with highs near 80 and partly cloudy skies. You won't need a winter coat, but you should have an umbrella handy.
US stock indexes edge higher in early trading; oil rises
Energy companies led US stock indexes to modest gains in early trading Monday as the price of crude oil headed higher. Swift shareholders will own a majority of the company, which will be called Knight-Swift Transportation Holdings.
Dancing with the Stars 2017: Power Rankings - Week 4
This Viennese waltz, to the song "Good Good Father", is in their honor and to thank them for loving her. The rest of Fifth Harmony performed live during Normani Kordei and Val Chmerkovskiy's rumba.
'Boss Baby,' "Beauty & Beast' outshine Smurfs this weekend at movie theaters"
Featuring the voices of Demi Lovato and Joe Manganiello, the Smurfs movie reportedly cost $60 million (£48.4 million) to make.
Dodge Demon to Run on Racing Gas
High-performance engines often have higher compression ratios and thus need fuel with higher octane ratings to avoid knocking. That campaign will (mercifully) come to an end next week when the new Challenger breaks cover during the New York Auto Show.
European Union offers pre-Brexit trade talks; tough on transition
The draft says the EU's overall objective is "to preserve its interests, those of its member states, its citizens and its businesses".