Russia's Crude Oil Production Was Flat in September 2017

Russia earned up to trillion rubles thanks to OPEC deal

Russia earned up to trillion rubles thanks to OPEC deal

"We think it's for real", the global head of commodities research told CNBC on Monday.

On Monday, WTI fell towards $50 a barrel, while Brent slipped below $56.

"Brent Crude's return to backwardation not only increases profitability of the producers who use the spot price for calculation, but also attracts to the market financial investors willing to earn money on prolongation of positions".

A recovery in USA crude exports and falling European refining margins have sent prices of North Sea barrels tumbling, which may encourage traders to keep oil in storage and could undermine OPEC's efforts to drain inventories.

That would mark a divergence from the historical trend.

The potential adverse fallout from the independence referendum in the oil-rich Kurdish region of Iraq hit sentiment last week, but couldn't stop a solid end to the week, months and quarter.

Pam Bondi really doesn't want OJ Simpson to serve parole in Florida
Simpson played football in his youth for the University of Southern California, then went on to play in the NFL from 1969 to 1979. Moreover, if Simpson seeks to leave Nevada , the Division of Parole and Probation will require him a written permission.

He said there is a need to rebalance and stablise the oil market so that industry investment can return to sufficient levels necessary to secure future supply.

Some traders said this was also an indicator that markets remained amply supplied despite efforts led by the Organization of the Petroleum Exporting Countries (OPEC) and Russian Federation to cut output to tighten the market and prop up prices.

"The rollout of new U.S. sanctions could coincide with a possible debt crisis that could prove calamitous for oil production", Ms Croft said. Analysts responding to commodity group S&P Global Platts said they expected to see a draw on USA crude oil inventories of around 1.5 million barrels, while US gasoline inventories climb 1.5 million barrels. "Maybe next year is a different story, but this year looks quite positive from now until the end of December". According to FactSet data prices were up around 3.6% for the quarter.

That left prices down roughly 1% for the week and 2.7% for the month. Natural gas prices rise in the winter as heating demand rises. Key OPEC producers consider a price above $60 as encouraging too much shale output.

"A full gasoline tank as far as supply goes is overshadowing the big crude oil supply draw", Phil Flynn, a senior market analyst for the PRICE Futures Group in Chicago, said in an emailed market report.

Recommended News

  • Amid shared fears, Erdogan, Rouhani unite against Kurdish independence

    Amid shared fears, Erdogan, Rouhani unite against Kurdish independence

    He was preceded in Tehran by Turkish armed forces chief of staff General Hulusi Akar, who arrived on Sunday. Iran said it will allow Iraqi federal forces to deploy at its border crossings with the region.
    House, Senate inviting social media giants to testify

    House, Senate inviting social media giants to testify

    Facebook CEO Mark Zuckerberg also said the company will work to make political advertising on its platform more transparent. It also found another 179 related accounts and blocked those after determining they broke the site's rules.
    Denver Broncos plan to stand together for national anthem

    Denver Broncos plan to stand together for national anthem

    The Denver Broncos will "stand together" during the national anthem starting this week, when the team faces the Oakland Raiders on Sunday.
  • Pair accused of Kim's 'airport assassination' go on trial

    Pair accused of Kim's 'airport assassination' go on trial

    North Korea has refused to accept the dead man was Kim Jong Un's half brother, suggesting instead he died of a heart attack. Police say neither Chang nor James were who they say they were. "The prosecution has a moral duty to disclose the names.
    Saudi Arabia to end ban on women driving

    Saudi Arabia to end ban on women driving

    The decision is also in line with the Saudi king's vision of Saudi Arabia 2030 or the National Transformation Program. It was unclear whether women would require their guardian's permission to apply for a driving licence.
    Obamacare repeal bill in doubt in Senate as key Republicans' concerns deepen

    Obamacare repeal bill in doubt in Senate as key Republicans' concerns deepen

    They face a September 30 deadline, at which point special rules that prevent a Democratic filibuster will expire. Lisa Murkowski, R-Alaska, who voted against the last repeal bill, is also uncertain about backing the bill.
  • Pep Guardiola fears broken rib for Sergio Aguero after Amsterdam accident

    Pep Guardiola fears broken rib for Sergio Aguero after Amsterdam accident

    In a statement, City said Aguero was in Holland "on his day off" and Guardiola was adamant his star had done nothing wrong. Aguero is the Premier League's joint top goalscorer with six goals , netting five in his last three league outings.
    75000 evacuated near Bali volcano

    75000 evacuated near Bali volcano

    Bali's Ngurah Rai global airport, which is about 76km from the volcano , remains open, with flights running as normal on Tuesday. Thousands of evacuees are living in temporary shelters, sports centres, village halls and with relatives or friends.
    Korea nuclear test site

    Korea nuclear test site

    The restrictions announced on Saturday do not apply to crude oil, which makes up the biggest share of energy exports to the North. Trump on Tuesday told the United Nations the USA could "totally destroy" North Korea, provoking a fierce response from Pyongyang.
  • Bondi: OJ Simpson not welcome in Florida

    Bondi: OJ Simpson not welcome in Florida

    OJ is well-known for being acquitted in 1955 following the murder of his ex-wife, Nicole Brown, and her friend Ron Goldman . PDT Sunday. "Our biggest concern was our safety and the public's safety and not wanting anybody, paparazzi, to follow him".
    Crackdown on Catalonia referendum officials

    Crackdown on Catalonia referendum officials

    Eighteen MSPs expressed "grave concern" at the actions of the Spanish state in a letter to Spain's prime minister. He has promised to declare independence within 48 hours of a victory for the yes campaign.
    Spartak Moscow v Liverpool: Salah to light up the Russian capital

    Spartak Moscow v Liverpool: Salah to light up the Russian capital

    The Russian champions had to come from behind to draw 2-2 with Anji. "I love Harry too but he is a Tottenham player". The jet-heeled Egyptian has scored six goals in all competitions, and has netted in the last three matches.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.