US Crude Oil Inventories Have Fallen ~10.6% in 2017

USA-SHALE  PERMIAN

West Texas Intermediate, the United States benchmark, is now trading at the highest level since mid-2015, pushed above $60 a barrel by a severe cold snap in the northeastern U.S. that spiked demand for heating fuel. Brent crude futures fell 11 cents to $66.33 a barrel.

OIL prices edged up yesterday, remaining near 2-1/2-year highs after data showed strong demand for crude imports in China and on increased U.S. refining activity that drew more crude from inventories.

Earlier in the week, Brent rose to $64.65 a barrel, its highest since June 2015, and WTI rose to $57.92, its highest since July 2015. Inventories excluding the nation's strategic reserve have declined more than 11% in the previous year.

A Reuters monthly poll showed analysts expect Brent crude to stay close to $60 in 2018.

USA output is still up by nearly 16% since mid-2016, but most analysts had expected production to break through 10 million bpd by the end of this year-a level only surpassed by top exporter Saudi Arabia and top producer Russian Federation.

Читайте также: Softbank buys large stake in Uber

Although U.S. shale drillers are now exhibiting restraint, speculation is rising that they will put more rigs into operation next year as oil strengthens: Gene McGillian, a market research manager at Tradition Energy, pointed out that "With that partially offsetting production cuts by OPEC and Russian Federation, the market will have to get confirmation that global inventories will keep coming down".

There are also expectations in the market that OPEC's next meeting on November 30 will agree to extend cuts beyond the current expiry date in March 2018.

Based on total expected quotas, China's imports-which at around 8.5 million bpd are already the world's biggest-are expected to hit another record in 2018 as new refining capacity is brought on stream and Beijing allows more independent refiners to import crude.

Libyan oil supplies were disrupted by an attack on a pipeline this week and flows towards the port of Es Sider were reduced by about 70,000 bpd today.

При любом использовании материалов сайта и дочерних проектов, гиперссылка на обязательна.
«» 2007 - 2018 Copyright.
Автоматизированное извлечение информации сайта запрещено.

Код для вставки в блог

Related News:

  • Jack Del Rio Fired by Mark Davis After Raiders' Loss to Chargers

    Jack Del Rio Fired by Mark Davis After Raiders' Loss to Chargers

    Under first-year coordinator Todd Downing, the group appeared to take a step back, particularly Carr and receiver Amari Cooper. They were the upstarts a year ago and were hot going into the playoffs until Derek Carr busted his ankle.
    Weather: Bitter cold New Year's Eve/ Day

    Weather: Bitter cold New Year's Eve/ Day

    Wind chill temperatures should drop between five and 15 degrees Sunday morning, and down to five below Monday morning. The coldest times will be each night and morning from sunset on New Year's Eve through midday Tuesday .

    Found Dead In Basement Apartment In Upstate New York

    All of the deceased were reportedly found in the basement of the 5,852-square-foot residence. "It's bad . Troy is about 10 miles from the state capital of Albany and about 160 miles north of New York City.
  • ISIS Claims Blasts in Kabul which Killed Dozens

    ISIS Claims Blasts in Kabul which Killed Dozens

    A journalist at Afghan Voice, Sayed Abbas Hussaini, said there appeared to have been more than one explosion during the attack. The bomb reportedly killed dozens of students after exploding near the offices of a news agency. "There were two explosions".
    Erica Garner, Activist Daughter of Chokehold Victim, Brain Dead

    Erica Garner, Activist Daughter of Chokehold Victim, Brain Dead

    Several friends and former colleagues from her more than 30 years in Atlanta TV called in to share their thoughts, per AJC.com . The first came following the birth of her second child and at the time, the family had disclosed Garner had an enlarged heart.
    Patrick Mahomes to start Week 17 for Chiefs

    Patrick Mahomes to start Week 17 for Chiefs

    Whether said future starts in 2017 or is extended beyond that depends a lot on how Smith and the Chiefs perform in the playoffs. That season, Mahomes tallied a completion percentage of 63.5 and a passer rating of 147.2.
  • When will Doug Jones be sworn in to the US Senate?

    When will Doug Jones be sworn in to the US Senate?

    In his own statement after the results were certified, Moore repeated his charge that the election was "fraudulent". He will be sworn in by Vice President Mike Pence and will assume his duties immediately after.
    Khloé Kardashian Reveals How Close She Is to Giving Birth

    Khloé Kardashian Reveals How Close She Is to Giving Birth

    As you might have seen this week, that included an intense workout (just like old times!) with sister Kourtney Kardashian . Responding to a tweet asking that very question, she replied , "I'll be 6 months next week".
    Chrissy Teigen's Flight To Tokyo Diverted

    Chrissy Teigen's Flight To Tokyo Diverted

    In an apology to inconvenienced passengers, the airline says it takes pride in customer service and failed on this flight. Four hours into the trip, over the Pacific Ocean, the airplane turned around and headed back to Los Angeles.
  • New Mexico State has been waiting 57 years for Friday's Arizona Bowl

    New Mexico State has been waiting 57 years for Friday's Arizona Bowl

    The Aggies left the Border Conference in 1962 to become independent, then, in 1971, joined the first of several mid-major leagues. New Mexico State drove down the field on the first drive but was held to a redzone field goal by Utah State .
    Afghanistan explosion: Shia organisation hit in Kabul

    Afghanistan explosion: Shia organisation hit in Kabul

    A local Shiite leader said one of the bombers was sitting unnoticed among the participants when he detonated his device. Explosions caused what Afghan President Ashraf Ghani's office calls "a massacre" in a Shiite area in Kabul on Thursday.
    Powerball Winning Numbers: How To Claim Last Night's $337 Million Jackpot?

    Powerball Winning Numbers: How To Claim Last Night's $337 Million Jackpot?

    Both Powerball and Mega Millions now boast jackpots above $300 million, giving gamblers two chances to hit it big this weekend. California resident Jeff Lindsay claimed the winning Powerball ticket June 10 and received an annuity of $447.8 million.


Most liked

Seven dead as JeM militants storm CRPF camp in Lethpora
The terrorists first lobbed grenades and then began indiscriminate firing and entered the training centre in Awantipora. Traffic on the Srinagar-Jammu Highway, passing through Pulwama , was not affected, a traffic police official said.

Texans GM taking leave of absence as wife battles cancer
Houston has traded away its first- and second-round picks in the 2018 NFL Draft and does not have a pick until the third round. He also thanked team owner Bob McNair and his family for their support as he spends more time with his family.

Forecast: It's Cold, And It Will Stay Cold For Some Time
We will likely have temperatures warm up to above freezing every day , but will fall right back to below freezing overnight . Parts of Central Florida near Orlando - and even Daytona Beach - may experience temperatures below freezing, Kottlowski said.

Himachal Pradesh Congress MLA hits woman constable, she slaps back
The BJP wrested power from the Congress , winning close to a two thirds majority with 44 seats in the 68-member Assembly. The 62-year-old leader entered into a heated argument with one of the women constables after she was allegedly pushed.

Liberians celebrate George Weah's presidential victory
The results were almost identical to those announced on Thursday evening by the commission after 98 percent of returns. Weah grew up in a Clara Town slum in Monrovia and went on to star for AC Milan, Paris St Germain and Chelsea.

New PUBG Patch for Xbox to Allow Squads of Any Size
We would like to apologize again for the inconvenience and we will continue to do our best to resolve the issues. The game has seen success, as it's the fourth most played Xbox game , but its performance has been rough .

United Blood Services donations drop as temperatures plummet
When you arrive, staff will direct you to the first station in the process that requires you to fill out a donor questionnaire . The response was huge, with hundreds of refugees wanting to give blood. "Every day we always get an update".

Meghan Markle's father 'extremely hurt' by Prince Harry
The family she never had? She says her father bought two Barbie sets to create a special doll family to put under the tree. The actress, 36, caught the eye of 007 producers in her role as Rachel Zane in U.S. legal drama Suits past year .

WEATHER: Thursday, Dec. 28 - Cold, wind chill
But don't let the sunny image fool you; it will still be cold outside! The brunt of the Arctic blast should hit at about 3 p.m. New Year's Day will be cold in the low 20s but because it will be breezy it will feel like the single digits most of the day.

Thousands protest in Iran in anti-government demonstrations
Protesters were filmed shouting anti-government slogans such as "death to the dictator" and "death to Rouhani". It is located in the northeast of the country, bordering Turkmenistan and Afghanistan.

Rockies, Davis reach record deal
Reed saved 19 games for the New York Mets last season and posted a 2.84 ERA splitting time with the Mets and Boston Red Sox. Jeff Bridich was somewhat mocked for saying "yes" three weeks ago when asked if his team could win a World Series in 2018.

Beyoncé Accepts Jay-Z's Cheating Confession In New "Family Feud" Video Teaser
Like Hov's previous 4:44 videos, " Family Feud " doesn't skimp on the star power, featuring appearances from Beyonce , Michael B. The thirty-second clip ends with his bars from the first verse stating the obvious " Nobody wins when the family feuds ".

Gunmen kill 12 in Cairo church
Eleven people were killed in all, including a policeman at the church, according to Interior Ministry and Coptic Church accounts. The attack claimed the lives of seven people, including one police conscript, and left four citizens wounded.

Wenger opens up over Sanchez future after Palace display
Arsene Wenger insists he is "not fearful" of Alexis Sanchez leaving Arsenal in January. For us, it is a question of keeping fighting.

Dana White Meeting With Floyd Mayweather's Team About UFC Deal
Reuters/Mathieu BelangerUltimate Fighting Championship ( UFC ) middleweight and former welterweight champion Georges St. It's a similar situation to late 2015, when McGregor won the UFC's featherweight title by knocking out Jose Aldo .