Oil prices inch down as oversupply concerns fester

Saudi Energy Minister Khalid al-Falih said on Friday that it was important to try and agree on an extension of a global oil cuts deal into the second half of the year with both OPEC and non-OPEC members. Prices traded roughly 2.5% higher for the month.

Fourth, will Opec extend its agreement to cut output beyond June when it meets on 25th May?

Official selling prices (OSPs) are expected to fall across the board for Saudi crudes sold to Asia in June, after a fall in the Middle East benchmark Dubai crude due to ample oil supplies, the survey of five refiners found.

He told CNBC that the "competing forces" of the bears hanging onto concerns of high inventories and USA shale and the bulls' faith the the Organization of the Petroleum Exporting Countries (OPEC) production cuts "are really locking oil into that low $50s sort of range".

Trump names pro-life leader to key HHS post
That report was cited by extremists in Congress, and by Karen Handel, who was vice president of public policy at Susan G. Mother Jones also reported that, in 2011, 24 out of 92 anti-abortion laws were directly linked to the AUL.

In November previous year, OPEC and other producers, including Russian Federation agreed to cut output by about 1.8 million barrels per day between January and June, but so far the move has had little impact on inventory levels.

However, in March and April oil prices weakened amid doubts about compliance with the agreement and concerns about rising U.S. production.

"Overall, Opec's compliance with the targets for output cuts set in November was 100 percent in Q1 2017". Russian Federation has achieved around half of its targeted cuts, but others have actually increased production slightly. The slippage from targeted cuts may have contributed to the recent weakness in oil prices.

In April, Zangeneh said that extending a crucial oil output agreement by world's biggest producers helped stabilize prices in markets since its implementation.

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As a proven three-down player, he is flexible across various defensive schemes and knows how to use his hands to gain leverage. Allen is the best defensive lineman in this class, with the only concern being his potentially arthritic shoulders.

"It is very likely that Phase 11 of South Pars development project will be the first agreement to be finalized as the two sides are thrashing out details", Zanganeh noted, hoping that EU will support European firms willing to play a role in developing Iran's oil and gas industry.

However, there are also arguments against extending.

Oil futures had a small gain in Friday's session, despite another rise in USA oil rig numbers for the 15th week in a row.

This month's production in the top USA shale plays will reach about 5.2 million barrels a day, the highest level since November 2015, according to the Energy Information Administration. The lack of compliance with last year's deal among non-Opec producers might make it hard to broker a new deal. Furthermore, the production cuts have handed a lifeline to USA producers, which have managed to increase production in response, grabbing market share. "Any increase in Opec production after June would probably push down prices and deter further increases in United States production".

Apple in Talks to Launch 'Apple Cash' Money Transfer Service
Apple Pay started as P2B and now wants to expand to P2P, while Venmo started as P2P and wants to expand to P2B. As the company has already learned with Apple Pay, consumer payment habits, once formed, are hard to change.

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