The ongoing outage of the Forties pipeline, which carries North Sea oil to Britain, was the main price driver, traders said.
US West Texas Intermediate (WTI) for February delivery added 0.5 percent to $57.66.
In the United States, energy companies cut rigs drilling for new production for the first time in six weeks, to 747, in the week to December 15, energy services firm Baker Hughes said on Friday. At the same time oil drilling rigs were reduced by 4, or by 0.5 percent to747 units. "There is still no reliable information about how long the fix work will last and when the pipeline will go back into operation", Commerzbank said on the Forties outage, adding "this should preclude any fall in the Brent price for the foreseeable future". Earlier, production at the Forties field was stopped due to unplanned repairs.
FPS provides almost 40 percent of the UK North Sea's oil and gas production through 85 fields to the British mainland.
On the other side, The International Energy Agency (IEA) in its monthly oil market report, published on Thursday, revised upward its projection for USA oil production, warning that total supply growth could exceed demand growth in the months ahead. At the same time, traders point to the absence of significant factors that could push oil prices up or down. Non-Opec output, led by the U.S., will rise by 630,000 bpd in 2017, followed by an increase of 1.6 million bpd during 2018.
IEA's monthly OMR was bearish for a short-term, as they see rising USA supplies likely moving oil market into a supply surplus in H1 2018 by 200,000 barrels per day (bpd) before reverting to a deficit of about 200,000 bpd in H2 2018, making 2018 a closely balanced market, and likelihood of better price performance in letter half of next year.
However, even with shale explorers reducing the number of rigs, drilling activity is still higher than previous year, when only 510 rigs were operational and when the nation's domestic output jumped back almost 16 percent since the current decline in mid-2016 to an overall of 9.78 barrels per day (bpd).
In November 2016, the OPEC summit was held in Vienna, where OPEC members reached an agreement on reducing oil output by 1.2 million barrels per day. Domestic crude oil production in the lower 48 states increased by 2.9% from October and was 9.5% higher than November 2016 at more than 9.1 million bpd. Following the meeting, was signed an agreement to reduce oil production by a total of 558,000 barrels per day starting from January 2017.
"We expect a reversal of the recent spike in Dated Brent crude price over the next few months, driven by our estimated 0.2 mn bpd increase in global oil inventories during first half of 2018, based on seasonally weak global oil demand, rising growth in non-Opec supply and stable Opec production around 32.5mn bpd", said Kotak Securities.
When he turned up at the mall, he was greeted by employees of the store and Santa who handed him two bags full of gifts. Access is the same charity that gave them a place to stay until the family was able to get back on their feet.
Their average price target spell out an upbeat performance - a 13% and would give ARCC a market capitalization of almost $7.65B. A number of large investors have recently bought and sold shares of ARCC . 43 funds opened positions while 127 raised stakes.
Chatham, Ont., product Chad Laprise moved to 6-2 in the UFC with a TKO of Galore Bofando at 4:10 of the first round. Teixiera looked re-invigorated and refocused, stopping Cirkunov by TKO due to punches at 2:45 in the first round.
Suspended two games for another jarring, helmet-to-helmet hit on Adams, Trevathan appealed his ban down to just one game. Panthers defensive coordinator Steve Wilks does not believe Davis' hit against Adams warrants a suspension .
Real almost bagged a second goal in the 65th minute, but Luka Modric's long range effort was denied by the upright. Both teams made hard work of their semi-finals as they bid to become world champions.
Telemark Asset Lc has invested 4.24% in Facebook, Inc. 2,838 were reported by Convergence Investment Ptnrs Ltd Liability Corp. The stock of The Walt Disney Company (NYSE:DIS) earned "Hold" rating by FBR Capital on Thursday, May 25.
The Election Commission figures showed that the NCP was leading in one seat and the Bhartiya Tribal Party in two seats. The election in Gujarat was bitterly fought, with many analysts calling it the closest fight for Modi and his party.
Households need at least 10Mbps download and 1Mbps upload speeds to get things done online , such as stream an HD movie. "Everyone should have good access to the Internet, wherever they live and work".
The world number eight Chinese girl finished second in the Group B, behind Intanon, with two wins from three outings. Rio Olympics silver medallist Sindhu lost 21-15, 12-21, 19-21 to world No.2 Yamaguchi at the Hamdan Sports Complex.
Also honoured was the Sunderland fan who died in July after a fearless fight with neuroblastoma - a rare type of cancer. He becomes the first long-distance runner to win the Sports Personality award since Paula Radcliffe in 2002.
While there's nothing yet to indicate whether there was anything explosive in those emails, the administration is clearly spooked. The special counsel's office pushed back on the characterizations that the emails were obtained unlawfully.
The scheduled vote was reported by Reuters and AFP on December 17, with both agencies citing unidentified diplomats. The text also calls on all United Nations member states not to move their diplomatic missions to Jerusalem.
Sarah Palin's oldest son allegedly broke into his parents' house and beat his dad bloody until cops showed up and busted him. Palin served in Iraq in 2008 as part of the Alaska-based 25th Infantry Division's 1st Stryker Brigade.
Moreover, Grt Partners Ltd has 0.02% invested in BNPP E NMX 30 Infrastructure Glbl ETF (NASDAQ:ENG) for 23,088 shares. (NYSE:WMB). KEYW Holding had 25 analyst reports since August 11, 2015 according to SRatingsIntel. (NASDAQ:CALD) rating on Friday, August 4.
Martin's next chance to return to the field comes next Sunday when the Bucs travel to take on the Carolina Panthers. Tampa Bay first selected Martin with the 31st-overall pick in the 2012 NFL Draft out of Boise State.
Some Vancouver Island residents should brace for snow after Environment Canada issued a weather statement Monday morning. In the Fraser Valley, the snow level will fall to near sea level by Tuesday afternoon, according to Environment Canada .
Fournette did not practice all week because of the injury, which he suffered in the third quarter of last Sunday's victory over. He trails only Kansas City's Kareem Hunt (1,046) among rookies in rushing yards.
Missoula police confirm that MI state police contacted them Thursday morning inquiring about the case of children's remains found. Authorities told local news outlets at the time of his sentencing that this would give them time to pursue murder charges.
The Browns stayed on the ground and finished the drive with a 12-yard touchdown run around left end by running back Duke Johnson . Johnson and Kizer chipped away at the stingy Ravens' defense for a few more before Johnson found the end zone on a 12-yard run.
The company was maintained on Thursday, July 14 by Barclays Capital. (NYSE:NWL) has "Buy" rating given on Monday, May 2 by UBS. The firm has "Buy" rating given on Sunday, August 20 by Cowen & Co. ( NASDAQ:AAPL ), 41 have Buy rating, 1 Sell and 9 Hold.
Chelsea head coach Antonio Conte is frustrated by those questioning his honesty over the fitness of David Luiz . Instead in 17 games we lost four games. "Because, for me, Southampton are a really good team".