India, which has repeatedly pressed OPEC members for oil price stability, has offered staff and other technical assistance to Aramco, Pradhan said.Barkindo, who took the top role at OPEC a year ago, did not directly address the potential Aramco investment in India, but said the group looks forward to rising Indian appetite for OPEC crude.
Last December, OPEC agreed to curb its output by about 1.2 million barrels per day from January 1 for six months. A meeting this week of the Organization of the Petroleum Exporting Countries this week will discuss whether the cuts are extended. "A major contribution to falling crude stocks in the next few months will be a ramp-up in global crude oil runs".
West Texas Intermediate for June delivery, which expires on Monday, rose 27 cents, or 0.5%, to $50.60 a barrel at 9.34 am on the New York Mercantile Exchange.
Bradley hits last-second shot as Celtics stun Cavs
When a local radio host asked him a rather innocuous question, James responded with: "You only ask questions when we lose". They began to exert good defense and display great shooting. "I thought he flopped", Jerebko said.
"Everyone I talked to inside OPEC agrees with the nine-month (extension)" Khalid al-Falih told a press conference in Baghdad after a meeting with the Iraqi Prime Minister Haider al-Abadi and his Iraqi counterpart, Jabar Ali al-Luaibi. Comments along those lines from OPEC officials and from Saudi and Russian leaders haven't received as much attention as they may have deserved, analysts at Credit Suisse Group AG said in a note Monday morning.
Then in December, non-OPEC producers led by Russian Federation agreed to reduce their own output by 558,000 barrels per day.
Pradhan said India is growing consistently at over 7 per cent and the growth rate in the energy sector is 7-8 per cent, which is double the rate of many developed markets. For this to happen, demand must grow and stockpiles must be "drained further".
Singapore condemns Manchester attack; no reports of S'poreans injured
The two assailants, who were convicted of murder, said they were acting to avenge the killing of Muslims by British soldiers. Britain's threat level remains at "severe", meaning an attack is highly likely, but this will remain under review, May said.
"The Saudi statement that everyone agreed to a nine-month extension spurred optimism that the cuts will do something to correct the over-supply scenario", Gene McGillian, manager of market research for Tradition Energy in Stamford, Connecticut, said by telephone.
US shale oil producers have been steadily ramping up production with the Energy Information Administration forecasting USA output to hit a record of almost 10 million barrels a day in 2018.
Trump seeks to rally Muslim leaders around fighting extremism
So far, Melania Trump has also impressed the Saudi press, with almost a full page dedicated to her "classy and conservative" look. El-Sisi invited Trump to visit him in Egypt, adding, "You are a unique personality that is capable of doing the impossible".
Goldman Sachs says that the U.S. rig count for new oil production has jumped by 404 since May a year ago, representing a rise of 128%.
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