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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    Oil markets diverge as US crude rises, Brent falls

    Rocky
    Rocky
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    • Post n°1

    Oil markets diverge as US crude rises, Brent falls Empty Oil markets diverge as US crude rises, Brent falls

    Post by Rocky Wed 21 Feb 2018, 1:21 am

    Oil markets diverge as US crude rises, Brent falls 542353
    Oil markets diverge as US crude rises, Brent falls


     BAGHDAD, Oman (Reuters) 

    Oil markets were mixed on Tuesday as US crude rose as supplies from Canada declined, while global benchmark crude prices fell.
    US West Texas Intermediate crude futures were $ 62.38 a barrel at 05:18 GMT, up 70 cents, or 1.1 percent, from the previous settlement price. 
    "The rise in WTI prices resulted from a reduction in the supply of the Keystone pipeline, which has been operating below its capacity level since last year due to leakage, leading to a decline in supplies destined for the United States," traders said. 
    Brent crude fell as Asian stocks plummeted and the dollar rose, with demand likely to ease as it makes fuel more expensive for countries using other currencies in their home markets. 
    Brent crude futures were $ 65.48 a barrel, down 19 cents, or 0.3 percent, from the previous settlement.
    The Organization of the Petroleum Exporting Countries (OPEC) Secretary-General Mohamed Barkindo said on Monday that the Organization had recorded a level of commitment to agreed production reduction targets of 133 percent in January at the level of all participating countries from within and outside the organization. 
    Barkindo said in Milan yesterday that the level of commitment last year was 107 percent and that producers from within OPEC and from outside will hold technical meetings in June. 
    He added that global demand for oil this year is expected to grow by 1.6 million barrels per day because of the "encouraging environment." And that the Organization of Economic Cooperation and Development's commercial oil inventories rose in January, reaching about 74 million barrels over the latest average for five years.
    On the other hand, visiting Iraqi Oil Minister Jabbar Ali Hussein al-Allaibi Turkey before the end of this week to discuss the file of the resumption of oil exports through the port of Ceyhan, Turkey. The spokesman of the Iraqi Oil Ministry Assem Jihad in a press statement on Monday, "The Iraqi oil minister will lead a ministerial delegation high To visit Ankara at the invitation of his Turkish counterpart Mouloud Gawishoglu; to hold talks on the development of bilateral relations and expand prospects for cooperation in the field of oil and energy, as well as discuss the file of the resumption of Iraqi oil exports through the Turkish port of Ceyhan. 
    He added that the oil minister will meet with his Turkish counterpart and a number of officials there to confirm the keenness of Iraq and the ministry to build bridges of trust and cooperation, to reach an agreement that strengthens the strength of bilateral relations and resume the process of exporting Iraqi oil through the oil marketing company - Sumo - exclusively.
    He said that the visit will also include inviting the Turkish companies specialized to implement the investment projects announced by the ministry to contribute and participate in the development of the oil sector, and that this visit is a complement to the discussions that took place in Baghdad before the end of last year. On the other hand, The oil pipeline with Jordan is still awaiting the approval of Iraqi Prime Minister Haider Abadi on the formula of implementation of the project inside Iraqi territory. 
    The newspaper said in a report seen by "Economy News", "There are two options for the Iraqi government to implement the project; the first implemented through a private investment (build the operation of ownership BOT), and the second (engineering and construction EPC) for the Iraqi government." Source, "The Iraqi Prime Minister will make a final decision in this regard during the next three weeks."
    As for the project within the territory of Jordan, the newspaper said, "It is agreed and the start of implementation is related to the completion of approvals for the part of the territory of Iraq." 
    The paper added that "the Jordanian government will not bear any cost to implement the project; it will be implemented as a full investment by the International Diamond Company, which was referred to the project tender earlier." 
    In a related context, media sources confirmed Tuesday that Lebanese President General Michel Aoun, who began an official visit to Iraq, will ask Baghdad for "oil consultations." 
    The sources said that "Aoun will focus during his talks in Iraq on the oil sector, since Baghdad is a state rich in oil, and can benefit from its experience in how to authorize companies and exploration of raw materials," pointing out that "Aoun will ask those involved in Iraq to consult on the oil file Lebanese ".

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