Crude oil price yesterday headed for its biggest one-day drop in a month as a result of evidence of yet more growth in US crude supply
This is coming as the federal government has unveiled plans to mobilise other oil and gas producers in Africa on the platform of African Petroleum Producers Organisation (APPO) to raise up to $2 billion to finance energy projects across the continent.
Further weighing on oil markets is the trade dispute between the United States and China, which looks unlikely to end anytime soon and has increasingly impacted on the Chinese economy.
However, the price is still on course for its strongest January gain for 14 years.
The global benchmark, Brent crude oil was down $1.49 at $60.15 per barrel, down 2.5 per cent on the day in their largest one-day percentage fall since late December, while US futures fell $1.71 to $51.98 a barrel.
United States crude production, which hit a record 11.9 million barrels per day late last year, has undermined sentiment in the oil market, Reuters quoted oil traders as saying.
US energy companies last week increased the number of rigs looking for new oil for the first time since late December to 862, energy services firm Baker Hughes said on Friday.
Even with an uncertain outlook for demand and evidence of growing supply, the oil market has benefited this month from another round of production cuts by the Organisation of Petroleum Exporting Countries (OPEC) and its partners, as well as robust trade in physical barrels of crude led by China.
The price has risen by 12 percent so far in January, the largest increase in percentage terms in the first month of the year since 2005, when it gained 14 per cent.
Investors have added to their bets on a sustained rise in the oil price this month for the first time since September, according to data from the InterContinental Exchange.
But much of the demand outlook hinges on China and whether its refiners will continue to import crude at 2018’s breakneck pace.
Industrial companies in China reported a second monthly fall in earnings in December, despite the government’s efforts to support borrowing and investment.
Appreciate the recommendation. Let me try it
out.
I blog quite often and I really thank you for your information. The article
has really peaked my interest. I’m going to bookmark your site
and keep checking for new information about once a week.
I opted in for your RSS feed as well.
Hello there I am so grateful I found your webpage, I really found you by error,
while I was researching on Google for something else, Anyhow I
am here now and would just like to say kudos for a
marvelous post and a all round thrilling blog (I also love the
theme/design), I don’t have time to go through it all at
the minute but I have bookmarked it and also added in your RSS feeds,
so when I have time I will be back to read more, Please do keep up the great work.
What a information of un-ambiguity and preserveness of precious know-how about unpredicted emotions.
It’s enormous that you are getting thoughts from this paragraph as well
as from our discussion made at this time.
Hello there! This is my first visit to your blog!
We are a group of volunteers and starting a new initiative
in a community in the same niche. Your blog provided us valuable information to work on. You have done a extraordinary job!
Hi there, You’ve done an excellent job. I’ll definitely digg it
and personally recommend to my friends. I’m confident they’ll be benefited from this website.
excellent points altogether, you just won a logo new reader.
What may you recommend in regards to your post that you just made a few days in the past?
Any sure?
I constantly spent my half an hour to read this weblog’s articles or reviews every day along with a cup of coffee.
I absolutely love your site.. Very nice colors & theme.
Did you develop this site yourself? Please reply back as I’m
attempting to create my own personal site and would love
to find out where you got this from or exactly what the theme is named.
Kudos!
Howdy! Quick question that’s completely off topic.
Do you know how to make your site mobile friendly? My
blog looks weird when viewing from my iphone 4. I’m trying to find a template or plugin that might
be able to resolve this issue. If you have any recommendations, please share.
Appreciate it!
When someone writes an article he/she keeps the idea
of a user in his/her brain that how a user can understand it.
Thus that’s why this paragraph is great. Thanks!
Wow, that’s what I was seeking for, what a material! present here at this
web site, thanks admin of this website.
Hi there, just became alert to your blog through
Google, and found that it is really informative.
I am going to watch out for brussels. I’ll be grateful
if you continue this in future. Lots of people will be
benefited from your writing. Cheers!
I don’t even know how I finished up here, however
I assumed this submit used to be good. I don’t understand who you are however definitely you’re going
to a well-known blogger should you are not already.
Cheers!
Post writing is also a excitement, if you know then you can write or else
it is difficult to write.
Keep this going please, great job!
This design is wicked! You certainly know how to keep a reader amused.
Between your wit and your videos, I was almost moved to start
my own blog (well, almost…HaHa!) Wonderful job. I really enjoyed what you had to say,
and more than that, how you presented it. Too cool!
Hello there! This post couldn’t be written much better!
Looking through this article reminds me of my previous roommate!
He continually kept talking about this. I am going to send this article to him.
Fairly certain he’ll have a good read. Many thanks for
sharing!
Hi this is somewhat of off topic but I was wondering if blogs use WYSIWYG editors
or if you have to manually code with HTML.
I’m starting a blog soon but have no coding knowledge so I wanted
to get advice from someone with experience. Any help would be enormously appreciated!
Hi there it’s me, I am also visiting this web page regularly, this web site is
in fact good and the viewers are really sharing nice thoughts.
I know this if off topic but I’m looking into starting my own blog and was wondering what all is required to get setup?
I’m assuming having a blog like yours would cost a pretty penny?
I’m not very web savvy so I’m not 100% certain. Any recommendations or
advice would be greatly appreciated. Cheers
Excellent goods from you, man. I have understand your stuff previous to and you are
just too magnificent. I really like what you have acquired here, certainly like what
you’re saying and the way in which you say it. You make it entertaining and you still care for to keep it smart.
I can’t wait to read much more from you. This is really a terrific site.
It’s perfect time to make some plans for the long run and
it’s time to be happy. I’ve read this submit
and if I may just I want to suggest you some fascinating issues
or suggestions. Maybe you can write next articles regarding
this article. I desire to read more issues about it!
Wow, that’s what I was exploring for, what a stuff!
existing here at this webpage, thanks admin of
this web page.
Incredible quest there. What happened after?
Thanks! plenty of fish natalielise
We’re a gaggle of volunteers and starting a new
scheme in our community. Your web site offered us with helpful info
to work on. You have performed a formidable task and our entire neighborhood can be thankful to
you.
Mass parsite http://bit.ly/2W9CVkn
Greetings I am so glad I found your blog, I really found you by
mistake, while I was looking on Digg for something else, Anyhow I am here
now and would just like to say thank you for a tremendous post and a all round thrilling blog (I
also love the theme/design), I don’t have time to go through
it all at the moment but I have saved it and also added in your RSS feeds,
so when I have time I will be back to read a lot more, Please
do keep up the excellent work.
Hello, i read your blog from time to time and i own a similar
one and i was just wondering if you get a lot of spam feedback?
If so how do you prevent it, any plugin or anything you
can recommend? I get so much lately it’s driving me mad so any assistance is very much appreciated.
Hello there, I discovered your blog by the use of Google whilst
looking for a comparable matter, your website came up, it appears
to be like good. I have bookmarked it in my google bookmarks.
Hi there, simply became alert to your blog thru Google, and found
that it’s really informative. I am gonna be careful for brussels.
I will be grateful when you proceed this in future.
Numerous people will probably be benefited from your
writing. Cheers! pof natalielise
Hey there! I’ve been following your weblog for some time now
and finally got the bravery to go ahead and give you a shout out from Dallas Tx!
Just wanted to say keep up the excellent work!
This is the perfect website for everyone who wishes to understand this topic.
You know so much its almost hard to argue with you (not that I personally will
need to…HaHa). You certainly put a new spin on a subject which
has been written about for decades. Great stuff, just excellent!
Link exchange is nothing else however it is just placing the other person’s webpage link
on your page at suitable place and other person will
also do same in favor of you.
Amazing things here. I’m very glad to look your post.
Thanks a lot and I am having a look forward to contact you.
Will you kindly drop me a mail?
This paragraph offers clear idea in favor of the new viewers of blogging, that really how to do running a blog.
natalielise pof
Hi there, I enjoy reading through your post. I like to
write a little comment to support you.
A person necessarily assist to make seriously articles I would state.
That is the first time I frequented your website page and to this point?
I surprised with the research you made to create this actual submit
incredible. Excellent task!
Why viewers still use to read news papers when in this
technological globe the whole thing is accessible on web?