Oil prices have soared since the start of the year, due to a number of risk factors such as OPEC-led supply cuts, USA sanctions on oil exporters Iran and Venezuela and escalating fighting in Libya.
The report pointed to a slightly under-supplied market in 2019 if OPEC kept pumping at March's level.
The oil market also followed global stock markets higher after positive corporate earnings results from JP Morgan. Though the rig count itself is a lagging indicator, with additional production showing up with a five-to-six-week latency after new drilling is reported, it is an important gauge to market participants trying to determine if US output is surging again.
"While no industry lasts forever, the age of oil is far from over", Bernstein said.
WTI (oil futures on NYMEX) finally cracked the key resistance-turned-support at 64.00, as the sellers remain in command so far this Thursday, as the sentiment remains weighed down by mounting concerns over the economic slowdown and surging United States crude supplies.
The International Energy Agency on Thursday reported an even lower figure for Venezuela's March output and said the country's production is likely to fall further this month. "The decrease was more than the five-year average of 5.1 mb due to larger gasoline draws and a lower crude build. March preliminary data show a significant crude build in Europe", said the report. The plant supplies Italy with gas through the Greenstream pipeline. The producers are due to meet on June 25-26 to decide whether to extend the pact.
A fourth OPEC source said there were talks about ideas such as whether OPEC should continue with the cuts alone, a deal extension of only three months to keep Russian Federation on board or pumping more if prices rise further.
However, non-OPEC states in the group have complied at a rate of 64%, with Russian Federation lagging behind its target cuts. US drillers added 2 rigs in the latest week, bringing the national count to 833 rigs, oilfield services firm Baker Hughes reported on Friday.
On the demand side, Chinese data showed exports rebounded last month, driving US and euro zone bond yields to three-week highs and helping offset weaker imports and reports of another cut in German growth forecasts.
Une performance saluée par Jean-Louis Gasset à l'issue du match, d'autant que le défenseur était blessé. "Oui je crois. Nous avons souffert en première période car Bordeaux a imposé un pressing très haut.
We'll also share some epic moments from some of our favorite characters including Jon Snow, Daenerys Targaryen and the Hound. Simply log into the HBO Go app (on your smartphone, tablet, console, TV etc.) and select Game of Thrones .
When the rocket flew a year ago , its two side boosters made synchronized landings on side-by-side ground pads in Florida. SpaceX's Falcon Heavy took off yesterday from the historic Launchpad 39A at the Kennedy Space Centre in Florida.
The Storm Prediction Center has placed most of the state, including central Maryland, under an enhanced risk for severe storms. Georgia's Augusta National Golf Club is included in the slight risk area Sunday as the Masters golf tournament concludes.
Wilson gave the Penguins a 1-0 lead by deflecting a shot from Marcus Pettersson past Lehner at 12:54 of the first period. NY now leads the series, 2-0, and the Islanders have, without question, been the better team in the series.
Le premier ministre a promis des décisions " puissantes et concrètes " et " de grands chantiers " à plus long terme. Après trois mois de grand débat et cinq mois de mobilisation des " gilets jaunes ", l'heure est au bilan.
Plusieurs internautes se sont tournés vers Twitter pour signaler le problème et afficher leur mécontentement. Mais les administrations de ces sites n'ont jusqu'à présent pas souhaité communiquer sur l'incident.
Abramovich in £2.5bn Chelsea sale talks with 3 parties
Further, according to The Mail , the club has sounded out proposals from three parties, including USA and Asian groups. The growing distance between the two is in stark contrast from when his presence in the director's box was a given.
Verratti ne veut pas partir — PSG
Mais on n'a pas réussi à lui faire ce cadeau. "Avec le coach, on a fait beaucoup de blagues". On ne peut pas tout avoir et il faut garder en tête qu'on peut toujours s'améliorer.
"Aujourd’hui, on a joué comme des débutants" — Mbappé
Par contre, et c'est étonnant, le père de Kylian affirme qu'il n'a plus de rêves pour son fils dans le futur. Le 15 juillet dernier, l'équipe de France a remporté sa deuxième Coupe du Monde en battant la Croatie 4 à 2.
When does Star Wars Jedi: Fallen Order launch?
However, there are also new purgetroopers, who investigate any sightings of Jedi; you can see them in the trailer. Thanks to his new interview with Jake Hamilton at Star Wars Celebration 2019 , we have more insight into how J.J.
Nuno: Wolves played badly in Southampton loss
The Saints won thanks to goals from Nathan Redmond and Shane Long , as they secured a crucial win in their fight for survival. How many games have we had at home? The game was there for us, but we conceded in a way we can not concede.