Thursday, 19 July, 2018

World oil price could hit $100 a barrel next year

OPEC chief: Ditching Iran deal would harm global economy OPEC, awaiting Trump Iran decision, to keep working for stable oil market
Lindsey Cook | 12 May, 2018, 20:54

That made Iran the third-biggest exporter of crude within OPEC, behind Saudi Arabia and Iraq.

Iran had been able to safeguard its oil industry against such threats over the past few years, Zangeneh was quoted as saying by Xinhua news agency.

Meanwhile, state-run oil marketing firms have kept prices of transport fuel unchanged since April 24, temporarily suspending the dynamic daily pricing regime, despite a rise in worldwide rates, to avoid panic among consumers, Indian Oil Corp (IOC) Chairman Sanjiv Singh said on Tuesday.

The US plans to impose new sanctions against Iran, which produces around 4 per cent of global oil supplies, after abandoning an agreement reached in late 2015, which limited Teheran's nuclear ambitions in exchange for removing US-Europe sanctions.

Trump's decision to immediately reimpose sanctions on Iran could impact their ability to export oil. Our trade with Iran has remained at even levels. An exit has raised concern that Iranian oil exports could be cut, putting upward pressure on prices.

Other nations that do business with Iran also could face US sanctions.

USA president Donald Trump on Tuesday pulled out of a 2015 worldwide deal with Iran, making investors nervous about rising risks of conflict in the Middle East and about oil supplies in a tight market.

More news: Saudi Arabia Says It Will Build Nuclear Bomb if Iran Does
More news: California Mandates Solar Panels on New Homes
More news: Ridgefield High School Ranked #5 In Connecticut

Iran produced about 3.8 million barrels of oil per day in April, according to the latest S&P Global Platts OPEC survey. Prices have gained over 8% over the past month and 15% since the beginning of the year. Weekly US crude oil production C-OUT-T-EIA; hit another record last week, climbing to 10.7 million barrels per day (bpd).

Under the financial sanctions, European companies will have 90 to 180 days to wind down their operations in Iran, or they will run afoul of the American banking system.

A number of French firms have have signed billion dollar agreements with Iran since the nuclear accord was signed in 2015.

Oil prices pared losses Tuesday after falling sharply on uncertainty around the future of the Iran nuclear deal.

They would have to wind up investments by November or face U.S. sanctions.

On Thursday, US individuals and entities were barred from doing business with six Iranian individuals and three companies Washington says have ties to the Revolutionary Guards.

M.K. Surana, chairman of Hindustan Petroleum, said refiners may use that time to step up purchases from Iran.

Recommended

  • Atletico Madrid eye shock swoop for Sergio Aguero

    Atletico Madrid eye shock swoop for Sergio Aguero

    However, a high-ranking Barcelona source told ESPN FC they "can't possibly believe that is true" at this moment in time. In an official statement , CEO Gil Marin expressed the Red's stance on Griezmann.
    China trade talks to continue in DC

    China trade talks to continue in DC

    China responded with threats of US exports to China in an equal amount and targeting industries that may cause the most impact. Chinese Vice Premier Liu He was involved in the Beijing-based trade talks with the USA trade delegation.
    Armenia parliament picks opposition leader as PM

    Armenia parliament picks opposition leader as PM

    Fighting periodically breaks out between those forces and Azerbaijani troops stationed on the other side of a demilitarized zone. In the event of the parliament's rejection of the action plan, the elected PM resigns and new elections of PM take place.
  • Hogan Lovells' Tech Team Takes Lead on Walmart's $16 Billion Flipkart Buy

    Hogan Lovells' Tech Team Takes Lead on Walmart's $16 Billion Flipkart Buy

    I am confident that this is one of the best decisions our company has made - we believe in India, have seen growth in India in every way.
    China sentences Anbang's ex-boss to 18 years in jail

    China sentences Anbang's ex-boss to 18 years in jail

    But as Beijing sought to curb capital outflow in recent months, Anbang faced increasing pushback in its offshore deal-making. In his closing statement, however, he said he understood and regretted the crimes and requested leniency.
    The first Players Championship pairing reveal is juicy

    The first Players Championship pairing reveal is juicy

    One year they were in the locker room at the Byron Nelson Classic when Mickelson challenged Woods to anything at their disposal. Although Woods' accomplishments are the stuff of legend, he and Mickelson crossed paths rarely in those prime years.
  • New Google features tap digital smarts

    New Google features tap digital smarts

    It has been challenging Google more frequently by launching that services duplicate what Google already offers on Android. For example, "I haven't seen you" might be autocompleted to "I haven't seen you in a while and I hope you're doing well".
    'Bathe in your blood': Woman accused of sending man 65K texts

    'Bathe in your blood': Woman accused of sending man 65K texts

    Jacqueline Ades of Phoenix was arrested Tuesday and slapped with charges of threatening and intimating, stalking and harassment. She said that she "knew her statements were insane and that she would return to Florida when released", the report alleges.
    Iron Man costume from 2008 film stolen from storage

    Iron Man costume from 2008 film stolen from storage

    Downey Jr.is now starring as Iron Man in Avengers: Infinity War , which is already one of the most successful Marvel films ever. The iconic costume also can be seen in the latest production of Marvel Studios' superhero film " Avengers: Infinity War ".
  • Greg Pence, Vice President's Brother, Likely Coming to Congress

    Greg Pence, Vice President's Brother, Likely Coming to Congress

    "I love my brother Michael and there is no daylight on issues between him and me", Pence said of the vice president to The Indianapolis Star.
    Gas prices expected to rise

    Gas prices expected to rise

    If in the end crude oil remains at $68-$70/bbl, prices will not be that much more expensive this summer than they are now. DeHaan did warn prices may spike again depending on what President Trump decides in regards to the Iran Nuclear deal .
    Toure heaps praise on Sheik Mansour after final Man City home game

    Toure heaps praise on Sheik Mansour after final Man City home game

    After eight years and seven trophy wins, Touré played his final game at the Etihad in City blue. Manchester City have set a new top-flight points record with their 3-1 win over Brighton .

Rep. Maloney exploring potential run for attorney general Rep. Maloney exploring potential run for attorney general Although Schneiderman denied the allegations of physical abuse, he immediately resigned within hours of the article's publication. Fourth woman: A prominent lawyer, says Mr Schneiderman slapped her with force after she rebuffed his advances.

Vegas Golden Knights vs. Winnipeg Jets Free Prediction 5/12/18 Vegas Golden Knights vs. Winnipeg Jets Free Prediction 5/12/18 A year ago at this time, the Winnipeg Jets weren't even in the playoffs and the Vegas Golden Knights didn't even have players. Winnipeg is 4-2 on the road in the playoffs after splitting a pair in Minnesota in its opening-round series against the Wild.

City of Memphis selected to help government test drones City of Memphis selected to help government test drones Deliveries in the Memphis proposal involve only aircraft parts at the airport and the 4,500-acre Shelby Farms Park in Memphis. And it comes as people find more reasons to cast drones into the sky - from aerial inspections of all kinds to the Olympics .

Surprising victor announced in highly contested West Virginia GOP primary Surprising victor  announced in highly contested West Virginia GOP primary West Virginia and IN represent two of the Republican Party's best chances to bolster its Senate majority IN November. On Tuesday, two Democrats without ideologically pure voting records advanced without much friction: Centrist Sen.

In the AHL played the longest match In the AHL played the longest match That game had been the longest in AHL history, and it ended when Ryan Potulny scored 2:58 into the fifth overtime. With the win, the Phantons took a 3-1 lead in the best-of-seven Atlantic Division Finals series.

Rundown Of Google's I/O 2018 Keynote Rundown Of Google's I/O 2018 Keynote It has been challenging Google more frequently by launching that services duplicate what Google already offers on Android . Previously, A/C units were listed as thermostats inside the Google Home app, but that's about to change.

The Players Championship 2018: Preview, predictions and picks The Players Championship 2018: Preview, predictions and picks However he posted top-10 finishes in 2014, 2015 and 2016 before a distant share of 35th last season, when he was battling a rib injury.

Bodies Recovered after Dam Burst in Kenya Bodies Recovered after Dam Burst in Kenya The burst happened in Solai, Nakuru county, 190 kilometres north-west of the capital, Nairobi , late on Wednesday (local time). The government said on Wednesday that the rain had killed 132 people and displaced 222,456 others in 32 counties since March.

Chelsea future out of Antonio Conte's hands Chelsea future out of Antonio Conte's hands One month ago, it was impossible to imagine we could fight for a place in the Champions League. We know our opponents have more individual quality so you have to find a solution.

USGS: Potential for Explosive Volcanic Eruption Rises on Hawaii's Big Island USGS: Potential for Explosive Volcanic Eruption Rises on Hawaii's Big Island I'm not a dumb-dumb. "I walked out onto my deck and I heard this sound, it sounded like whoosh, whoosh", said Northway. The agency reported that 104 acres are now covered in lava and a total of 36 structures had been destroyed.

Warren Buffett: Bitcoin is "Rat Poison Squared" Warren Buffett: Bitcoin is Warren Buffett's Berkshire Hathaway bought another 75 million shares of Apple , the billionaire said Thursday. It should be noted that Bill Gates has already changed his attitude to crypto-currencies several times.

Indian fraudsters ridiculed after being paraded in 'space suits' Indian fraudsters ridiculed after being paraded in 'space suits' Virender Mohan Brar also told the complainant that they would pay Rs 10 crore immediately as token money if the test found OK. He further came to know that he had been cheated and the so-called scientists are members of the racket, the police said.

Warriors Playoff Scouting Report: Houston Rockets Guards Warriors Playoff Scouting Report: Houston Rockets Guards They became just the 21st squad in National Basketball Association history to win that many games. Stephen Curry led Golden State with 28 points, seven rebounds and eight assists in the win.

New York Yankees to play games in London New York Yankees to play games in London If this were old school baseball, there's a pretty good chance a Red Sox player might get plunked this series as a retaliation for Joe Kelly nailing Tyler Austin .

As Punjab lock horns with Rajasthan, when and where to watch As Punjab lock horns with Rajasthan, when and where to watch The urge to cash in on the PowerPlay overs forced Karun Nair to tread a risky path and his mistimed slog ended in Unadkat's hands. Three wickets in the final over meant Rajasthan finished at least 10 runs short.