Oil falls on rise in US drilling, selling ahead of OPEC report
OPEC
Washington – Arab Today
Oil prices fell nearly one percent on Monday in response to growing evidence that U.S. production is rising and as some investors unwound positions ahead of OPEC's first report on compliance with its deal to cut production.
Global benchmark Brent crude futures were down 45 cents at $56.25 a barrel at 0947 GMT and touched a session low of $56.04 a barrel. West Texas Intermediate (WTI) crude futures were down 41 cents at $53.45 a barrel and traded as low as $53.86 earlier in the day.
"Bulls are liquidating ahead of the release of the monthly OPEC report due out shortly and yet another increase in U.S. rig counts is also playing part in the weakness," said Tamas Varga, senior analyst at London brokerage PVM Oil Associates.
U.S. oil drillers have added most drilling rigs since 2012 over the past month, bringing the total count to 591 rigs, the most since October 2015, Baker Hughes said in its weekly report.
This rise in U.S. activity comes just as some oil producers are reducing output to reverse global oversupply in a bid to prop up prices.--REUTERS
Source :NNA
GMT 12:59 2017 Thursday ,14 December
Oil prices fall on rising US outputGMT 15:09 2017 Wednesday ,29 November
Shell resumes all-cash dividend as oil price recoversGMT 15:30 2017 Tuesday ,21 November
Oil up on ongoing OPEC cuts, but rising US output weighsGMT 18:16 2017 Monday ,20 November
Oil markets tepid ahead of Nov. 30 OPEC meetingGMT 04:45 2017 Thursday ,16 November
Oil prices extend losses in Asia after demand warning
Economic conference on investment opportunities in Syria kicks off
Bucharest - SANA
With the participation of 120 representatives of Romanian companies, Chambers of Commerce and industry, An economic conference on “Reconstruction in Syria between the development of economic steadfastness and the opportunities ofRussia tests new telemetry system during manned Soyuz MS-11 spacecraft’s launch
Moscow - TASS
The Astra-06 apparatus developed by specialists of Russian Space Systems (RSS) was used for the first time as additional telemetric equipment aboard the manned Soyuz MS-11 spacecraft launched from the Baikonur CosmodromeLiverpool, Manchester City seek neighbours' help in title chase
London - DPA
Liverpool and Manchester City will be looking for a little help from their not-so-friendly neighbours this weekend. The Premier League front-runners face each other's local rivals when City host Everton and Liverpool take on Manchester United. Liverpool jumped above City at theBlue light in smartphones linked to blindness and some cancers
Spain - DPA
Ever since we have started to become chained to our smartphones and tablets, people have been saying that the waves coming off these devices must be bad for us. So often laughed off as conspiracy theorists, it now looks more and moreFestive Fashion by Dubai-based designer ASMARAÏA
Dubai - Arab Today
Dubai-based label ASMARAÏA just launched its pre-fall 2019 collection — and it’s all about cruelty-free, sustainable fashion with a festive edge. Checkmate The 15-piece collection features this checkered skirt-and-jacket ensemble that is giving us major “Clueless” vibes. Gold Rush ‘Tis the season to sparkle and this dazzling, floor-length gold skirt will do the trick. Take note of the chic black bow detail at the waist — it’s the ultimate party look. Feathered fashion The brand works with environmentally-friendly materials such as organic cotton, recycled polyester and faux fur, so you can be sure this feathered look doesn’t come at the cost of an animal’s life. Jewel Tones If you want to glisten like a polished jewel at your next festive function, this emerald-colored skirt is the perfect choice with its sequin details and shimmery overlay. Golden Girl Leopard print
GMT 12:47 2016 Thursday ,01 September
'La La Land' musical masterpiece dazzles Venice film fest
GMT 12:42 2017 Monday ,20 February
Dalia al-Behairy begins 'Yawmiyat Zoga Mafrosa'
GMT 19:01 2017 Wednesday ,30 August
Oil prices down as US reels from Harvey
GMT 04:19 2017 Monday ,08 May
National forces attack mercenaries in Taiz
GMT 13:08 2017 Saturday ,09 September
Minister of Communications and InformationTechnology leads Sudan Delegation to Kazakhstan OIC Summit
GMT 19:21 2017 Sunday ,07 May
Iranian Film Week opens in Baghdad
GMT 21:33 2017 Sunday ,30 July
Arab Quartet meeting kicks off in Bahrain
GMT 08:19 2018 Thursday ,06 December
Warming Greenland ice melting at 'unprecedented' levels, study finds
GMT 17:17 2016 Friday ,07 October
Aleppo bleeds as US and Russia spar
GMT 12:03 2015 Monday ,21 December
Nepal protester killed in constitutional crisis clash
GMT 09:47 2016 Thursday ,22 December
Trump vows to cut F-35 spending, as leaked memo
GMT 21:44 2017 Friday ,15 December
King establishes Hawar Development Committee
GMT 20:57 2017 Tuesday ,16 May
Naval Forces rescue 23 tourists in Hurghada
GMT 12:56 2017 Monday ,11 December
Lyon leave it late, Balotelli with Nice winner
GMT 14:41 2017 Sunday ,13 August
Kenya's Odinga urges supporters 'not to go to work' Monday
GMT 06:18 2017 Thursday ,19 October
Russian delegation meets with Julphar chairman
GMT 05:55 2017 Saturday ,08 April
Prince Miteb briefed on progress in osteoporosis research work
GMT 21:20 2017 Monday ,23 October
Nasr, delegation of London Stock Exchange
GMT 11:36 2016 Tuesday ,05 July
Bangladesh politician stunned by son's role in attack
GMT 22:25 2017 Sunday ,19 November
UN calls on Syria’s warring sides to stop targeting civilians
GMT 15:48 2017 Wednesday ,01 March
Removal of residents from West Bank settlement termed a ‘media stunt’GMT 14:40 2012 Saturday ,10 March
Magdy Al-Galad steps down
GMT 09:47 2017 Sunday ,12 March
Cat Camp in New York attracts cat lovers
GMT 14:57 2016 Friday ,09 September
Madonna, Ritchie settle child custody dispute
GMT 23:52 2017 Monday ,18 September
UAE economic growth boosting logistics sector
GMT 00:15 2017 Tuesday ,18 July
Anti-terror squad detains terror suspect in Subang
GMT 15:03 2016 Friday ,01 January
Gene-editing technique heals mice with muscular dystrophy
GMT 06:34 2017 Tuesday ,30 May
Trial of Egyptian rights lawyer with presidential ambitions starts
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor