Oil's trading at the highest level since mid-2015 after WTI breached above $60 a barrel for the first time in more than two years.
But while 2018 is shaping up to be a tumultuous year for crude, it could be that the US plays a lesser role in creating chaos than some think: the Federal Reserve Bank of Dallas this week noted in its latest survey of 134 energy firms based in Texas, New Mexico, and Louisiana that prices above $60 per barrel are needed to see a significant uptick in activity.
The rise saw WTI hitting its highest level since June 2015 on the final trading day of 2017.Brent crude futures - the global benchmark for oil prices - were also up, rising 33 cents or 0.5 percent to $66.49 a barrel.
Oil markets have tightened after a year of production cuts led by Middle East-dominated Organisation of the Petroleum Exporting Countries (OPEC) and Russian Federation. Since the start of the year, Brent and WTI have risen by 17 and 12%, respectively, although the price rises from mid-2017 are much stronger, at almost 50%.
Besides the weekly drawdown, the EIA also said that US oil production dipped to 9.754 million barrels per day, down from 9.789 million bpd the previous week. Inventories declined 1% week-over-week and 54.2 MMbbls or 11.15% year-over-year.
USA output is still up by nearly 16% since mid-2016, but most analysts had expected production to break through 10 million bpd by the end of this year-a level only surpassed by top exporter Saudi Arabia and top producer Russian Federation.
Texans GM Rick Smith taking leave of absence
Smith has been tending to his wife throughout this season, while she has undergone treatment in Arizona. O'Brien's contract says he's in charge of who plays and doesn't play. "I don't control that".
Refiners have profited in recent months as the spread widened between United States crude and Brent futures prices.
USA output has surged overall this year, hitting a 46-year high in October when producers pumped 9.6 million barrels a day, according to federal data.
Strong OPEC compliance with the supply pact should lend support to prices, analysts said.
OPEC cuts kicked off last January and are scheduled to continue throughout 2018.
Consultancy JBC Energy said Libyan pipeline outages had "no major impact on exports".
The Minnesota Vikings defense forces Chicago Bears rookie quarterback Mitchell Trubisky to make crucial mistake causing safety. Elflein was held out of practice all week and, if the Vikings lock up a first-round bye, could have three weeks between games.
The strain of influenza circulating this year is known to cause severe illness, according to a city release sent out today. It also maintains that an annual flu vaccine is the the first and most important step in protecting against flu viruses.
With this, the number of CRPF who were killed in the encounter has reached five including the one who suffered a heart attack. The CRPF camp also serves as training centre for troops inducted for counter-militancy operations in Kashmir.
Moore denied the accusations and said in the lawsuit that he had passed a polygraph test to prove they are false. And on Thursday afternoon, Alabama Circuit Judge Hardwick rejected the complaint from the Moore campaign.
This latest incident is the second time officers responded to a domestic incident at the Wells' house. The caller told police they heard a woman yell "help me, he's going to kill me", 1010 WINS reported .
The signing, of course, brings into question if the Rockies will now attempt to re-sign last year's closer, Greg Holland . Holland made $15 million this year, but he did not exercise the $15 million player option after the 2017 season.
Snipes-Garner told the Daily News that Garner suffered an asthma-induced heart attack on Saturday night. Eric Garner's oldest daughter, Erica, was a major force behind protests for justice for her father.
She led the country from back-to-back civil wars and saw it through a deadly Ebola outbreak that killed almost 5,000 Liberians. The post Liberians, Paris Saint-Germain, others hail Weah's presidential victory appeared first on Vanguard News .
Forecast models show the greatest impacts along the MT/ID state line including Lookout Pass and along the Rocky mountain front. Two to five-inches of snow are expected with heaviest snowfall generally in the vicinity and south of Interstate-80.
Two arrested for grisly family murder
Two people are being arraigned Saturday morning in the killing of two women and two children in Troy earlier this week. The Boys & Girls Club also set up a GoFundMe campaign to help Isaiah with living expenses and to pay for counseling .
George Weah Unveils Agenda For Liberia
Expected to officially take office next month, he received messages of congratulations from worldwide leaders on Friday. Weah's rags-to-riches story has been an inspiration to many supporters who call him "King George".
Erica Garner dies; fought police brutality after dad's death
Erica is survived by her two children, a daughter and a son, her mother, her two sisters, her two brothers, and her grandmother. His words became a rallying cry for Black Lives Matter protesters, and the video of the arrest made headlines around the world.
Buccaneers To Retain Dirk Koetter For 2018
The Bucs have invested heavily in surrounding Winston with a supporting cast on offense at the expense of their defense. After a 9-7 record in 2016 and essentially the same personnel in place, the outlook for this season looked promising.
Watch JAY-Z and Beyoncé's Star-Studded 'Family Feud' Video
Like Hov's previous 4:44 videos, " Family Feud " doesn't skimp on the star power, featuring appearances from Beyonce , Michael B. Throughout the trailer , the scenes cut from the church to a love scene between an unidentified man and woman.
Backstage News On Paige's Injury During Live Event
She was suspended twice last summer for violating the company's wellness policy, then needed the aforementioned neck surgery. Paige may have suffered what some fans described as a bad injury at tonight's WWE live event on Long Island, New York.
Veteran news anchor Amanda Davis dies
On Sunday, the anchor posted to Facebook about celebrating Christmas after losing a loved one . Davis leaves behind her mother and her daughter, LA-based actress Melora Rivera .