Canadian delegation visits Golden Temple ahead of Trudeau's visit
Thousands march against corruption after Netanyahu indictment call
Ramaphosa takes over as SA president
Oil Futures Fall For Second Session As Investors Await OPEC Decision
10 August 2017, 01:31 | Rufus Hill
Oil prices tug lower on doubts OPEC meeting will deliver
Oil prices have gained marginally after reports of lower crude supplies from Saudi Arabia set to start next month negated the impact of the ongoing high output from prominent exporters, including the US.
An official familiar with the matter told Reuters that Saudi Arabian state oil company Aramco will decrease designated customer allocation next month by almost 520,000 barrels per day (bpd).
WTI oil for September delivery dropped 0.5% to settle at USD49.17/bbl, unable to hold the USD50 mark.
Brent crude, the global benchmark, rose 0.2% to $52.46 a barrel.
"Support is coming from a stabilising USA rig count, falling United States inventories and the Saudi cut in exports", Ole Hansen, head of commodity strategy at Denmark's Saxo Bank, told the Reuters Global Oil Forum. That declaration came as the Organization of the Petroleum Exporting Countries-of which Saudi Arabia is the most important member-has struggled to reduce the oversupply of oil in the global market that has weighed on prices for three years.
Libya was exempted from a push to cut global production and bolster oil prices led by the Organization of the Petroleum Exporting Countries (OPEC) and other big producers like Russian Federation. Supplies to Europe and the US will also be reduced, the sources said, according to the report. The issue has been particularly "a struggle for Iraq lately", said Saxo's Hansen.
Also expected to be high on the agenda is the possible inclusion of Libya in the output-cap effort.
"We continue to see stronger third-quarter seasonal demand as more than enough to offset recent production increases and still draw down inventories to at least some degree", said Tim Evans of Citi Futures. Officials from a joint OPEC and non-OPEC technical committee are meeting in Abu Dhabi on Monday and Tuesday to discuss ways to boost compliance with the deal to cut 1.8 million barrels per day in production. Nigeria, another OPEC member originally exempt from the pact, recently agree to begin reining in output.
Najam Sethi Appointed Pakistan Cricket Board Chairman
Sethi, 69, will replace Shaharyar Khan, who quit because of health and personal reasons after completing his tenure. Sethi had previously served as the acting chairman of the PCB, a tenure marred by court wranglings.
LG Q6 with FullVision display launched in India for Rs 14990
The battery in the Q6 is also subjected to an extra harsh testing process, more demanding than worldwide testing standards. LG is offering a one-time screen replacement guarantee that will last six months from the date of purchase in India.
Atomic bombing of Nagasaki remembered
President Donald Trump said North Korean missile strike threats would be met "with fire and fury like the world has never seen". Abe, in a speech that was nearly a repeat of what he said in Hiroshima, did not mention the United Nations nuclear ban treaty.
Atlanta gym bans police officers, military from joining
According to Chambers, users of the gym are usually minorities who would not feel comfortable with police officers inside. But, he added that his gym has never required the help of officers, and said that they will never need it, either.
Rez Infinite gets a surprise release on Steam with VR support
It was a long time coming but now we have the best version yet, " says Enhance Games founder and Rez creator Tetsuya Mizuguchi. If you were combing Steam today looking for something new to play, you might be surprised when you happen upon Rez Infinite .