Source U.S. Energy Information Administration Short Term Energy Outlook May 2018
14 May, 2018, 18:35
Investment in the United States unconventional oil industry rose 42% year on year in 2017 to $138bn compared to a 2% rise in overall non-OPEC capital expenditure over the same period as easy access to capital and cheap debt drove to an explosion in output, buoyed by firming oil prices, OPEC said.
The report stated that recent US trade-related actions [imposing tariffs and trade war with China] could lead to rising global inflation, declining business sentiment, as well as other effects that could dampen ongoing global growth.
Oil prices have been a bit of a roller-coaster ride so far this year, going up and down between its lowest point of $59 (£43) per barrel in February on the West Texas Intermediate (WTI) index to peaking earlier this month at nearly $72 (£53).
The move boosted Brent.
The deal between the Organization of the Petroleum Exporting Countries and non-OPEC producers led by Russian Federation to cut supplies and erase a global glut has helped oil prices reach $78 a barrel, their highest level since 2014.
By contrast, net long positions were increased slightly in USA gasoline (+1 million barrels), US heating oil (+7 million barrels) and European gasoil (+2 million barrels).
On Monday, however, markets were held in check by news of a rise in US drilling for new oil production.
The goal of the supply cut was to reduce the excess in oil stocks to that of the five-year average.
OPEC production rose by 12,000 bbl/day to an average of 31.93m bbl/day in April compared to March when compliance with the cartel's supply cut agreement reached 149%, driven in part by the Venezuela economic crisis.
2018, demand for OPEC crude is forecast at 32.7 mb/d, 0.3 mb/d lower than the 2017 level.
New Jersey has lost several rulings along the way, and the case previously had not been heard by the Supreme Court in 2014. West Virginia and 17 other states, and the governors of three more, sided with New Jersey in the case.
But Icahn and Deason blasted the deal , saying it significantly undervalued the U.S. company and would be its "death knell". Deason said, "Xerox is now positioned to conduct a true, robust strategic alternatives process".
In 2005, former Prime Minister Gowda had expelled Siddaramaiah from JD (S) and it was then that Siddaramaiah joined Congress. Votes will be counted on Monday and exit polls and other surveys have often been wrong in India.
Needless to say, the crowd went absolutely batshit when Reynolds removed his Nina Bo'Nina Brown lewk to reveal his true identity. He informed the judges that he hadn't told anyone of his surprise appearance on the show, including wife Blake Lively .
Space rock " Asteroid 2010 WC9 " will have a near-Earth encounter, about half the lunar distance, on 15 May, media reports said. At 11.05 pm on 15 May, Asteroid 2010 WC9 will make its closest approach only 0.53 lunar distances (126.419 miles) from Earth.
The girl was sleeping along with her parents near a stadium at Payyanur in Kannur district when the man abducted her, police said. Changaramkulam police station house officer (SHO) Manesh K P said the delay in identifying the culprit was not deliberate.
As far as Spieth is concerned, improvement with putter in hand will trigger the kind of spectacular run he is capable of. I think I was ideal inside of 10 to 15 feet today and anywhere inside, which was probably the first time this year.
Similarly, in the Class 10 examination, the pass percentage of girls is 98.95 per cent while that of boys is 98.15 per cent. This year, around 81,000 students appeared for ISC exams and around 1.84 lakh students took the class 10 ICSE board exams.
Nintendo will also be shipping out an additional wave of Super NES Classic units. 3, Donkey Kong , Balloon Fight and many more. When will the NES Classic be released? These games included such greats as The Legend of Zelda , Super Mario Bros .
Roma played the final twenty minutes a man down after Radja Nainggolan was sent off for a second yellow card after a foul on Argentina striker Paulo Dybala.
Apple faces class action over MacBook keyboard
Unfortunately for Apple , the curious case of the failing MacBook Pro and MacBook keyboards is refusing to go away. The lawsuit further asks for damages and refunds for users who have had to replace their MacBooks's keyboard.
ROCKETS: ABC13, ABC7 Morning Team Gear Challenge
The Rockets and Warriors have both cruised through the playoffs at a rapid rate, knocking off their opponents in decisive fashion. The NBA's two best teams will have a chance to duke it out finally to figure out who will represent the West in the NBA Finals.
US Anglican leader to give address at British royal wedding
Born in Chicago in 1953, Curry moved to Buffalo, N.Y., one year later and grew up there, said church spokeswoman Neva Rae Fox. Prince Harry and Meghan Markle have asked a senior USA bishop to give an address at their wedding next week.
Sonam Kapoor's wedding was 'the most magical two days'
But some people are really lucky to have two mothers in their life in the form of a sisters, who always look after them. It's work mode for Sonam Kapoor as she headed to Cannes Film Festival 2018 with her hubby Anand this past weekend.
Italy's M5S and League parties poised to name a prime minister
Salvini and Di Maio are scheduled to meet again in Rome on Monday before being received at the Quirinal, the presidential palace. Di Maio and Salvini could serve as deputy premiers, with Di Maio also as foreign minister and Salvini as interior minister.
Benitez calls for united front at Newcastle
He said: "I think this week, maybe there will be another conversation and we will see where we are for the next week". Benitez is hoping for a £50million transfer pot this summer, and could spend more if he sells.