Russia's Crude Oil Production Was Flat in September 2017


"Oil prices remain supported by ongoing supply restrictions from OPEC and Russian Federation, with the agreement likely to be extended". Seasonal norms were upended in late August when Hurricane Harvey hit the large concentration of refineries in the U.S. Gulf Coast and the sector was further interrupted when Hurricane Irma hit Florida, which has no refineries of its own.

"When we had the hurricane disruptions, that translated into strong margins and disruptions to USA crude exports". West Texas Intermediate, the USA benchmark for the price of oil, was down 2.4 percent to $50.43 per barrel. Any fall in Russia's crude oil production is bullish for crude oil (BNO) (USO) prices.

Oil slid in NY after its biggest monthly gain in more than a year as the boost from seasonal demand and political tensions in Iraq was expected to fade.

Brent crude, the benchmark for more than half the world's oil, was at $57.62 a barrel on the ICE Futures Europe exchange at 11:28 a.m. London time. It was the biggest third-quarter increase since 2004.The contract reached its highest in more than two years early last week, and posted its fifth consecutive weekly gain.

Iran exports 2.6 million barrels a day of crude oil and the more valuable condensate.

Just as important, global crude inventories have begun to decline. Supplies at the oil storage hub in Cushing, Oklahoma, rose by 2.084 million barrels.

"We are seeing a normalisation of global inventory, it's mostly falling, which is supporting prices", said Mr Burns.

Oil's steady recovery over the past month has been largely thanks to a rebalancing of supply from the Organisation of Petroleum Exporting Countries (OPEC) and allies such as Russian Federation. The need for sustained production curbs is a sign the bulls are on fragile ground.

Oil prices dipped on Thursday after the United States reported record crude exports, although traders said that efforts led by OPEC and Russian Federation to cut production meant markets remained well supported overall.

Azerbaijan's Energy Ministry reported that the country is committed to oil cut deal and daily oil production in the country amounted to 785,700 barrels in September, 733,000 barrels of which were crude oil and 52,700 barrels-condensate.



Latest news

No evidence Las Vegas shooter tied to militant group
He urged followers to "intensify one attack after another against the infidels", following a spike in global terror attacks. At least 58 people have been killed and more than 500 wounded in the deadliest mass shooting ever in American history.

Who Is The Las Vegas "Person Of Interest" Marilou Danley?
In her statement , lawyer Matt Lombard said Danley thought of the murderer as a "kind, caring, quiet man". She then moved to the United States and was married to American Geary Danley, whom she divorced in 2015.

Playtex recalls children's plate and bowls products for choking hazard
They have also received 11 reports of that clear plastic ending up in the mouths of kids, as well as 4 reported choking cases. Consumers have been advised to immediately stop using the recalled plates and bowls and take them away from young children.

Nomura/Instinet Says Tesla Inc (TSLA) Is Going To $500
The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink . In other Tesla news, VP Eric Branderiz sold 99 shares of the firm's stock in a transaction dated Tuesday, September 5th.

Where is OJ Simpson going after prison? 'None of your business'
The families of the victims were awarded $33.5 million after a civil suit was filed when Simpson was found not guilty . Along with a handful of accomplices, the former star broke into the room of a couple of sports memorabilia dealers.

The Conspiracy Behind OJ Simpson's Release from Prison
PDT from Lovelock Correctional Center in northern Nevada, state prisons spokeswoman Brooke Keast told The Associated Press. Florida Attorney General Pam Bondi said Sunday morning that the newly paroled Simpson is not welcome there.

Brexit Briefing: UK Chancellor Hammond Says Talks Must Be Accelerated
Marshall repeated a call for a deal allowing the Brexit talks to move on to future trade arrangements by the end of this year. The Chancellor will say: "Our economy is not broken: it is fundamentally strong".

Videos show accident on stage that sent Marilyn Manson to hospital
Manson's concerts from October 2 through October 14 will be rescheduled for a later date, according to a statement issued Sunday. The incident happened just three days into his current tour, which was due to continue until the end of October.

New England Patriots vs Carolina Panthers: Game Four Preview and Prediction
While the final score may have looked lopsided, the Panthers defense didn't give up a ton of yards to Drew Brees and his friends. Well, something happened on the way to "legendary" status, and the Panthers suddenly seem stuck with a broken Cam Newton .

Sanders: Trump attacking San Juan mayor is 'unspeakable'
Duke is traveling with a Coast Guard vice admiral and others. "Dammit, this is not a good-news story". The White House says President Trump spoke early Sunday to Puerto Rico Gov.

IND vs AUS cricket online
Kedar Jadhav (1/38 in 7 overs) also did his bit to put brakes on the scoring after the openers raised visions of a mammoth total. India was looking in control just when Rahane perished for a score of 53 and that brought an end to their 106-run stand.

Tourist volcano scare as Bali's government claims the island is safe
In Bali , residents are still being moved outside an exclusion zone that stretches 12 kilometers from the center of Mount Agung . Sutopo Purwo Nugroho, the disaster mitigation agency's spokesperson, said the chances of an eruption were "quite big".

Jose Mourinho confirms Paul Pogba's injury fears in blow for Man United
Midfield trio Paul Pogba , Michael Carrick and Marouane Fellaini are all sidelined with injuries and Mourinho could hand Ander Herrera another start.

DPRK diplomat leaves for Moscow for talks with Russian Federation
Russian Federation might be trying to get involved in back-channel diplomacy between Pyongyang and Washington, the sources said. North Korean leader Kim Jong Un threatened retaliation in his response, calling Trump "mentally deranged" and a "dotard".

Rob Kardashian and Kylie Jenner Are Suing Blac Chyna for Assault & Battery
If that fails, we will go forward with the hearing on September 18 so that the court will impose long-term consequences on Mr. Rob and Kylie are seeking compensation for Rob's injuries, the damage done to Kylie's home, and punitive damages.

Other news