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Southeast Asia's net crude oil imports will more than double to 5.5 million bpd by 2040 as the region adds new refining capacity to meet rising demand while regional oil output falls, according to the International Energy Agency (IEA).
The U.S. Energy Information Administration reported that crude inventories rose by 856,000 barrels in the week to October 20.
Oil prices have gotten a boost this month from geopolitical tension and expectations that OPEC and other oil exporters will extend a deal to limit their oil output.
Crude shipments to Turkey from northern Iraq, the second-largest producer in Opec, have declined after Iraqi government forces took back the city of Kirkuk last week after a Kurdish referendum on independence. OPEC is said to be working on an exit strategy in an effort to reassure investors that the group will manage a controlled release of supplies to avoid a new glut when the curbs eventually expire.
Oil prices declined, with Brent crude futures falling 23 cents to $58.10 a barrel and U.S. West Texas Intermediate crude off 45 cents at $52.02 as of 1:36 p.m. EDT (1736 GMT). Total volume traded was about 46 percent below the 100-day average.
This is coming just as the World Bank released its forecast that Oil prices to rise to $56 per barrel in 2018 from $53 this year as a result of steadily growing demand, agreed production cuts among oil exporters and stabilizing US shale oil production, while the surge in metals prices is expected to level off next year. "Initially, it was thought to be related to the hurricane, but to me it's becoming a little more structural".
The EIA data showed gasoline and distillate inventories both fell by more than 5 million barrels, and refinery utilization rates rose 3.3 percentage points.
"The exports are ripping higher", Loewen said.
The spread, or difference, between Brent and WTI means US oil is more competitive against other benchmarks in some markets.
Global inventories remain above the five-year average with USA crude adding to existing stockpiles.
TransCanada Corp said in a filing on Thursday that it is seeking to raise the temporary discounted spot rate for light crude on its 700,000 barrel-per-day Marketlink pipeline.
Even if you choose in-home delivery, couriers are instructed to ring the bell or knock on the door first. Meanwhile, the courier will receive a prompt on their app and can then unlock the door with a swipe.
The three suspects were later caught after the victim had memorized their Jeep's license plate and alerted authorities. Gainesville Police charged 28-year-old Tyler Tenbrink and brothers Colton and William Fears with attempted homicide.
About 19,000 civilian and military service personnel are working in recovery efforts in Puerto Rico and the U.S. It knocked out electricity to the whole island and caused widespread damage to homes and infrastructure.
India continued to dominate the possession in the first quarter as Malaysia failed to produce any good opportunities. India scored from field efforts through Ramandeep Singh (3rd minute) and Lalit Upadhyay (29th).
Polestar 2 will start production later in 2019 and will be the first battery-electric vehicle (BEV) from the Volvo Car Group. Polestar will also open dedicated spaces, that will give a preview, test drive and demonstrate the Polestar cars.
However, after breaking the news, the interviewer assured readers that "after a long pause. she reassures me she's joking". If Kourtney really is with child, she will join a list of Kardashian women who are now mothers-to-be.
Trump kicked off his attack on the players by calling National Football League quarterback Colin Kaepernick a " son of a bitch ". We have never thought attempting to make such a focused point by aiming at the anthem and the flag is effective.
The song has been co-written and produced by Max Martin and Shellback, and comes alongside a lyric video. " You're so gorgeous . It isn't long before we're given the full taste of Taylor Swift's next outing, with Reputation set for release on November 10.
You can also change your console language to select right-to-left languages - Arabic & Hebrew - in the Xbox Settings menu. This enables players to get into touch with the official and community tournaments that they have already joined.
Taco Bell is giving away free Doritos Locos Tacos
He was so excited, in fact, that he gave himself an unwieldy nickname: Steal a Base, Steal a Taco Guy. To claim your free Doritos ® Locos Taco, just stop in to Taco Bell on November 1 from 2-6 p.m.
London's new £10 T-Charge launches today
The fee mirrors the Congestion Charge by applying only to the central London zone and cars operating weekdays between 7am and 6pm. He added that the additional charge to drive in London can help persuade drivers to buy more environmentally friendly vehicles.
'Pay with Google' makes online shopping quicker and easier
Instead, Google sends the merchant your payment details and shipping address from your account, making it all much more simple. Since Pay with Google relies on the Google Payment API , vendors have to implement it on their websites before you can use it.
Meghan Markle has just met Her Majesty the Queen
It was at the castle, where the Queen spends her summer breaks, where the first meeting between the pair took place. As Meghan has been married before, Harry must ask the Queen for her permission to Wednesday the brunette star.
Scaramucci Post deletes Holocaust tweet after backlash
The former Trump aide kicked off his ambiguous project with partner Lance Leifer, who like Scaramucci is a hedge fund manager. Laifer also received publicity in 2007 when he made it his mission to raise as much money as possible for malaria research.
Egypt urges Iraq, Kurdish region for restraint
In a statement , the Turkish government said it would stand by Baghdad to provide peace and stability in the region. The status of Kirkuk and fate of the Kurds were left unsettled 14 years ago when a USA -led invasion toppled Saddam.
26 fall ill after consuming food on Tejas Express
A spokesperson of IRCTC added, "Initially, seven passengers complained of nausea and were attended by the on-board supervisor". As reported by the hospital, none of the patients was in serious condition, IRCTC claimed in its statement.
People trapped in rubble after Mogadishu blast
A huge explosion has reportedly hit one of the busiest street in Somalia's capital of Mogadishu, number of casualties is unknown. The prime minister's office announced the resignation of Abdullahi and army chief Ahmed Mohamed Jimale Irfid on Thursday.