Friday, 16 November, 2018

Trump To OPEC: 'Reduce Pricing Now!'

President Rouhani talks to Iranian expatriates in Bern Switzerland President Rouhani talks to Iranian expatriates in Bern Switzerland
Elsie Buchanan | 07 July, 2018, 04:33

"The more that Saudi Arabia adds to the market, the less of a supply cushion we have - that's a bullish twist to a bearish development", said Yawger at Mizuho.

It is now trying to negotiate a waiver from the USA sanctions, but judging by the State Department's stated goal to reduce Iran's crude oil exports to zero, success is uncertain.

"We are making meaningful changes to our supply forecasts: we see lower output from Iran, Libya and Angola ahead, but increase our forecasts for Saudi Arabia", wrote Martijn Rats, equity analyst at Morgan Stanley.

While Trump says he wants lower oil prices, U.S. sanctions against OPEC members Iran and Venezuela are adding uncertainty to the market, causing prices to spike.

Japanese customers, however, are continuing to import for now, with multiple buyers considering buying Iranian oil through September loading, the report added citing an unnamed North Asia trading source familiar with Iranian oil shipping arrangements.

"On China, India - yes, certainly".

The U.S. Navy stands ready to ensure freedom of navigation and free flow of commerce, a spokesman for the U.S. military's Central Command said. "And yes, we will certainly be requesting that their oil imports go to zero, without question".

YouTube stars die in 100-foot waterfall plunge
They spent seven days in jail for violating the Yellowstone rules in Wyoming and were banned from United States federal lands. Gamble and Lyakh pleaded guilty to heading off the walkway at the park and onto the Grand Prismatic Spring.


Traders said the decline in fuel inventories was largely down to the outage at Syncrude Canada's 360,000 barrels per day (bpd) oil sands facility near Fort McMurray, Alberta, which is expected to last through July.

President Donald Trump used Twitter on Wednesday (July 4) to express his frustration with high U.S.

It seems his earlier hope that Saudi Arabia would increase its output by 2 million barrels a day were dashed. Prices to (sic) high!

"There are indications that Iranian oil exports have already begun dropping during the first half of June, mostly to Europe".

Recent price rises have also been spurred by a USA announcement that it plans to re-introduce sanctions against Iran from November, which will also target its oil industry.

However, the rise was much smaller than the 9.89 million drop recorded the previous week and while crude prices fell on the news they soon moved off the day's lows. It estimated that once United States sanctions are fully implemented, some 1.7 to 2 million bpd of crude and condensate would be taken out of the market.

Monica Malik, chief economist, Abu Dhabi Commercial Bank, welcomed the UAE's decision to hike output later this year as it will bring stability in the oil market and also improve government revenues from hydrocarbon sector.

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