Donald Trump reignites Opec spat over 'too high' oil prices
30 June, 2018, 21:47 | Author: Lawrence Cooper
The British investment bank expects OPEC crude supplies, excluding Venezuela and Iran, to increase by 700,000 to 800,000 barrels per day.
"Oil prices are too high, OPEC is at it again. Not good!" Trump wrote in his post on Twitter after last raising the issue in April. "Oil prices are artificially Very High!"
US ally Saudi Arabia remains OPEC's most powerful member - with enough production capacity to manipulate global supplies.
"The deluge of USA crude production continues to hold the top-side in check", said Stephen Innes, head of trading at futures brokerage OANDA.
In the letter, the senators said a run-up in oil prices is "effectively a tax on every American family's discretionary budget" since the price of oil directly affects the price of gasoline.
US President Donald Trump renewed his attack on OPEC on Wednesday, and the International Energy Agency said the world may face a supply gap by late 2019 if OPEC can not cover any shortfalls.
Donald Trump and Iran exchanged sharp words over oil prices on Wednesday, with Tehran accusing the USA president of contributing to volatile prices after he withdraw from a global nuclear arms deal last month.
Trump sent out his tweet hours after returning to Washington from a summit with North Korean leader Kim Jong Un in Singapore and it was not immediately clear what prompted his comment.
Saudi Arabia and Russian Federation have said it's time to reverse the cuts and appear to have begun reviving supplies, but face opposition from Iran, Iraq and Venezuela.
Brent crude futures, the worldwide benchmark for oil prices, were at $76.46 per barrel at 0046 GMT, down 28 cents, or 0.4 percent, from their last close.
Those against an increase this time are concerned it would threaten the unity of the 24-nation alliance involved in the deal and say forecasts from OPEC and others calling for higher demand in the second half of 2018 are too optimistic.
Rising U.S. stocks partly reflect a surge in U.S. crude production, which has jumped by nearly a third in the last two years to a record 10.8 million barrels per day (bpd).
The International Energy Agency warned that economic turmoil in Venezuela and renewed sanctions on Iran will likely remove 1.5 million barrels per day from the market by the end of 2019.
Official US production and inventory data is due to be published on Wednesday by the Energy Information Administration.
Rolling back most but not all of their output cuts within three months.
However, it cautioned that there are possible downside risks to the demand outlook, including "the possibility of higher prices, a weakening of economic confidence, trade protectionism and a potential further strengthening of the US dollar". Given the backing of the two largest producers participating in the accord, an output increase " looks inevitable" Citigroup analysts led by Ed Morse said in a report on Tuesday.
It's a district that's 70 percent person of color, and it has never been represented by a person of color. Others took the Associated Press to task for a breaking news tweet sent Tuesday night declaring, 'U.S.
Poland can't progress to the last-16 with the no 1 seed in the group having lost their first two games of the competition. Colombia's football association has said the players who faced Poland focused on "regenerative" work on Monday.
Japan's time-wasting tactics at the World Cup have been widely condemned. "It was an ultimate decision for me to make". Scampering across his goal before diving, Kawashima clawed the ball to safety just before it had crossed the line.
Despite Mr Trump's stance, House Majority Leader Kevin McCarthy said the chamber would press ahead on legislation next week. Instead, Trump has blamed the Democrats for refusing to acquiesce to his demands on immigration.
Directed by Peyton Reed, Ant-Man and The Wasp stars Paul Rudd , Evangeline Lilly , Bobby Cannavale, Michael Peña , Tip "T.I". I met with Marvel in May 2016, and they were actually telling me the story of Ragnarok with concept art and images.
There were many things to see for England and Panama , and it seems that good things are finally on the way for the Three Lions. Moussa Wague restored Senegal's lead in the 71st minute. "It could have been an even bigger score ..."
The dog's owner, Megan Brainard , found the dog through a pet-finding site and she has now won $1,500 for Zsa Zsa's win. Last year's victor was a 57-kilogram gentle giant named Martha - a Neopolitan mastiff with gas and a droopy face.
South Korea switched 4-1-4-1 when defending, but the skillful Mexicans knew how to exploit open space and dominate the midfield. Although the American team lost in their match against Sweden , their place was secured by the Korean team.
They are on an eight-match winless run at World Cup finals but coach Shin Tae-yong was pleased with the endeavour of his team. Mexico were quick out of the traps in the opening half, pressing forward and passing well around the Korean team.
To reach the last 16 on their World Cup debut, Iceland must beat the Croatians and hope Nigeria fail to beat Argentina . For Argentina to pull that off, Messi's teammates need to take the pressure off Messi.
World Cup match report Mexico v Sweden 27 June 2018
The Swedes went through to the knockout rounds as the unlikely winners of Group F , taking the beaten Mexicans with them. Captain Andreas Granqvist puts the ball beyond the reach of Guillermo Ochoa to double the advantage for his side.
Samsung, Apple reach settlement over design dispute
Apple claimed that Samsung raised $ 1 billion by selling smartphones that infringed on its design-related rights. It is important that we continue to protect the hard work and innovation of so many people at APPLE .
China defends its USA investment record
It added that Treasury Secretary Steven Mnuchin is expected to push for the plan in a report set for release on Friday. Among big USA movers, Intel Corp. fell 3.4 per cent, Visa Inc. fell 3.2 per cent and Boeing Co. fell 2.2 per cent.
Peru lead Australia 1-0 at halftime
Peru needs the result more, though neither side has anything to lose when they meet up to complete their time at the World Cup. It's last World Cup victory was a 4-1 result against Iran in the first round of the 1978 tournament in Argentina.