The National Bank of Australia said the outlook for the oil market was mixed because there were downside risks to prices due to concerns about economic growth and strong growth in United States supply, while the cutbacks in OPEC declined and the U.S. imposed sanctions on Iran and Venezuela.
OPEC sources have said an extension of the supply-cutting pact is the likely scenario.
"While oil demand is expected to grow at a moderate pace in 2019, it is still well below the strong growth expected in the non-OPEC supply forecast for this year", OPEC said in the report.
EIA's data also showed that on the exports side, USA crude oil exports increased while domestic production rose as well.
This increase in price was mainly attributed to an announcement from the Energy Information Administration on Wednesday, reporting that US crude supplies fell by around 3.9 million barrels last week. Opec›s report said oil inventories in developed economies were above the five-year average in January.
For 2020, the government said it expected U.S. crude oil demand to rise by 220,000 bpd to 21.03 million bpd, unchanged from previous forecasts.
After cutting its output by 500,000 bpd in March from the month before, Saudi Arabia reported earlier this week on plans to limit its crude supply to below 7 million bpd.
We'll have to see if Marvel comes through with an explanation because the fans aren't staying quiet - peep the reactions below. This is a touching tribute to the Falcon, as Sam was shown running a support group for military veterans in Winter Soldier .
He assured that the web foundation was working with governments, companies and citizens to make the web safer. His story was based on reports from the Associated Press , Reuters , Agence France-Presse and online sources.
To begin with, the Huawei Watch GT carries a price tag of Rs 16,990 for Classic Edition and Rs 15,990 for Sports Edition. The round dial of Watch GT is of a 1.39-inch OLED (454×454 pixels) touchscreen display having 326ppi pixel density.
Annual wage growth jumped 3.4 percent in February, the biggest increase since April 2009, from 3.1 percent in January. The core inflation is expected to be steady around 5.4 percent last month as compared to 5.38 percent a month before.
Analysts have said the case against Aisyah appeared weaker since there was no video evidence of her accosting Kim at the airport. He urged the attorney-general to be transparent and explain why he dropped the case against Aisyah but not Huong.
Maybe we were trying to play defensive and trying to score goals and maybe that was wrong and today Liverpool were better. I knew we had a chance but I didn't expect it would happen, but the boys made it happen and it was really brilliant.
The extent of this and the unknown of this were the things we were unsure about, but hopefully, he'll get through that fine. Wicketkeeper BJ Watling's situation is more positive and he looks a more likely starter in the third test.
It recovered to a drop of 1.02 per cent by and 0.79 per cent against the dollar by 4.10pm, but it remained a disatrous day. Extending the timeframe for Brexit requires approval from all 27 remaining European Union member countries.
Beto O'Rourke speaks to constituents outside of a polling location at Nixon Elementary School in El Paso, Texas, Nov. 6, 2018. Sterzenbach, Tewes and multiple advisers close to O'Rourke did not respond to requests for comment.
Diess, who also heads up the VW brand, has been axing slow-selling models and auto variants to reduce complexity. The new cost cutting drive is a continuation of Volkswagen's 3 billion euros Zukunftspakt savings plan.
How An iPhone Saved A Man From Bow And Arrow Attack
The man was charged with intent to commit an indictable offence, assault occasioning actual bodily harm and malicious damage. The incident began when the attacker, carrying a bow and arrow, confronted the man outside his house, police said.
Eye check-up to detect Alzheimer’s disease
Scientists from Duke University in the USA found the eye seems to reflect changes taking place deep within the brain. It may get trapped in the deposits of another protein called amyloid that is commonly associated with in the disease.
Jennifer Lopez and Alex Rodriguez proposal pictures
Over a shot of the two of them hugging after the proposal, he wrote , "There aren't many words to share with you, only feelings". The announcement was made with a photo of Jennifer and Alex's hands showing off the Jenny from the Block hitmaker's $1.8m ring.
Spotify lodges antitrust complaint against Apple
He continued saying, "For example, they limit our communication with our customers-including our outreach beyond the app". "This is not about Spotify picking a fight with Apple , but we feel like we had no other choice", he Gutierrez added.
Khawaja ton guides Australia to 272-9 in deciding ODI
Australia again started well with Finch and Usman Khawaja putting on 76 for the first wicket until the Aussie captain departed. He scored 50 and 38 in the first two ODIs before notching his maiden ODI century at Mohali as Australia began their comeback.