{"id":562,"date":"2017-10-03T07:03:17","date_gmt":"2017-10-03T12:03:17","guid":{"rendered":"http:\/\/www.dandc.com\/?p=562"},"modified":"2017-10-03T07:03:17","modified_gmt":"2017-10-03T12:03:17","slug":"oil-falls-below-56-on-signs-of-higher-output","status":"publish","type":"post","link":"http:\/\/www.dandc.com\/?p=562","title":{"rendered":"Oil falls below $56 on signs of higher output"},"content":{"rendered":"

via Reuters: Top News<\/a> October 2, 2017 at 09:35AM<\/p>\n

<\/p>\n

<\/p>\n
\n
\n

LONDON (Reuters) – Oil fell more than $1 a barrel to below $56 on Monday as a rise in U.S. drilling and higher OPEC output put the brakes on a rally that helped prices to register their biggest third-quarter gain in 13 years. <\/p>\n

U.S. energy companies added oil rigs for the first week in seven and Iraq announced its exports rose slightly in September while OPEC overall boosted output, a Reuters survey showed. <\/p>\n

Brent crude, the global benchmark, was down $1.02 at $55.77 a barrel at 1310 GMT. It notched a third-quarter gain of about 20 percent, the biggest third-quarter increase since 2004 and traded as high as $59.49 last week. <\/p>\n

\u201cI think it\u2019s going to be a struggle to move above $60 Brent,\u201d said Olivier Jakob, oil analyst at Petromatrix. <\/p>\n<\/p>\n

U.S. crude was down $1.22 at $50.45. The U.S. benchmark posted its strongest quarterly gain since the second quarter of 2016. <\/p>\n

The rally was driven by mounting signs that a three-year supply glut is easing, helped by a production cut deal among global producers led by the Organization of the Petroleum Exporting Countries. <\/p>\n

\u201cBrent crude oil prices have gone from strength to strength as surplus oil stocks are being depleted,\u201d Bank of America Merrill Lynch said in a report. \u201cImportantly, this rally is supported by a tighter physical market, providing a fundamental backbone that was not present before.\u201d <\/p>\n

But a Reuters survey on Friday found OPEC oil output rose last month, gaining mostly because of higher supplies from Iraq and also from Libya, an OPEC member exempt from cutting output. <\/p>\n

The Libyan gain appears short-lived, however. The country\u2019s largest oilfield, Sharara, has been closed since Sunday, an engineer at the field and a Libyan oil source said. <\/p>\n

Middle Eastern oil producers are concerned the price rise will only stir U.S. shale producers into more drilling and push prices lower again. Key OPEC producers consider a price above $60 as encouraging too much shale output. <\/p>\n

In February oil industry sources said Saudi Arabia would like to see oil around that $60 level. <\/p>\n

Technical charts suggest the rally may be running out of steam. Jakob of Petromatrix said Brent\u2019s weekly chart had formed a \u201cshooting star,\u201d a pattern seen as indicating a market has reached a top. <\/p>\n

\n

Additional reporting by Aaron Sheldrick; Editing by Edmund Blair and David Goodman<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

via Reuters: Top News October 2, 2017 at 09:35AM LONDON (Reuters) – Oil fell more than $1 a barrel to below $56 on Monday as a rise in U.S. drilling and higher OPEC output put the brakes on a rally that helped prices to register their biggest third-quarter gain in 13 years. U.S. energy companies […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_kad_blocks_custom_css":"","_kad_blocks_head_custom_js":"","_kad_blocks_body_custom_js":"","_kad_blocks_footer_custom_js":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[46,45],"class_list":["post-562","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-feedly","tag-ifttt"],"jetpack_publicize_connections":[],"taxonomy_info":{"category":[{"value":1,"label":"Uncategorized"}],"post_tag":[{"value":46,"label":"Feedly"},{"value":45,"label":"IFTTT"}]},"featured_image_src_large":false,"author_info":{"display_name":"Darren","author_link":"http:\/\/www.dandc.com\/?author=1"},"comment_info":0,"category_info":[{"term_id":1,"name":"Uncategorized","slug":"uncategorized","term_group":0,"term_taxonomy_id":1,"taxonomy":"category","description":"","parent":0,"count":34,"filter":"raw","cat_ID":1,"category_count":34,"category_description":"","cat_name":"Uncategorized","category_nicename":"uncategorized","category_parent":0}],"tag_info":[{"term_id":46,"name":"Feedly","slug":"feedly","term_group":0,"term_taxonomy_id":46,"taxonomy":"post_tag","description":"","parent":0,"count":68,"filter":"raw"},{"term_id":45,"name":"IFTTT","slug":"ifttt","term_group":0,"term_taxonomy_id":45,"taxonomy":"post_tag","description":"","parent":0,"count":68,"filter":"raw"}],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p7GQ5E-94","jetpack-related-posts":[{"id":56,"url":"http:\/\/www.dandc.com\/?p=56","url_meta":{"origin":562,"position":0},"title":"Many UK teachers support creationism","author":"Darren","date":"September 19, 2008","format":false,"excerpt":"After Royal Society education director Michael Reiss was forced out of his position over comments that creationism could be taught in science class, a new survey find more than a quarter of British teachers agree, The Telegraph reports.[Many UK teachers support creationism | ZDNet Government | ZDNet.com]","rel":"","context":"In "Christian"","block_context":{"text":"Christian","link":"http:\/\/www.dandc.com\/?cat=5"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":74,"url":"http:\/\/www.dandc.com\/?p=74","url_meta":{"origin":562,"position":1},"title":"Sanford and DeMint emerging as knights of the right – Local \/ Metro – The State","author":"Darren","date":"February 16, 2009","format":false,"excerpt":"One is a junior U.S. senator from a small, conservative state. The other is a governor and former congressman known for sleeping on his couch in Washington and bringing pigs to the state Capitol to protest what he saw as pork-barrel spending. Jim DeMint and Mark Sanford are major political\u2026","rel":"","context":"In "News"","block_context":{"text":"News","link":"http:\/\/www.dandc.com\/?cat=11"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":141,"url":"http:\/\/www.dandc.com\/?p=141","url_meta":{"origin":562,"position":2},"title":"First Lady requires more than twenty attendants","author":"Darren","date":"February 2, 2010","format":false,"excerpt":"\"No, Michele Obama does not get paid to serve as the First Lady and she doesn\u2019t perform any official duties. But this hasn\u2019t deterred her from hiring an unprecedented number of staffers to cater to her every whim and to satisfy her every request in the midst of the Great\u2026","rel":"","context":"In "News"","block_context":{"text":"News","link":"http:\/\/www.dandc.com\/?cat=11"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":964,"url":"http:\/\/www.dandc.com\/?p=964","url_meta":{"origin":562,"position":3},"title":"How to set up your Google account for when you pass away","author":"Darren","date":"April 25, 2022","format":false,"excerpt":"via Android Phone Fans April 25, 2022 at 07:58PMWhile its a topic we often don\u2019t want to confront, it is really important to discuss what happens to your digital presence once you have passed on. Death is a constant, and in this ever increasing digital landscape we find ourselves in\u2026","rel":"","context":"In "News"","block_context":{"text":"News","link":"http:\/\/www.dandc.com\/?cat=11"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/phandroid.com\/wp-content\/uploads\/2022\/04\/DA9431FA-0464-48E6-BA6E-FA36C05683D0-640x146.jpeg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/phandroid.com\/wp-content\/uploads\/2022\/04\/DA9431FA-0464-48E6-BA6E-FA36C05683D0-640x146.jpeg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/phandroid.com\/wp-content\/uploads\/2022\/04\/DA9431FA-0464-48E6-BA6E-FA36C05683D0-640x146.jpeg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":604,"url":"http:\/\/www.dandc.com\/?p=604","url_meta":{"origin":562,"position":4},"title":"40 Days for Life: Offering Hope and Life One Vigil at a Time","author":"Darren","date":"October 3, 2017","format":false,"excerpt":"via www.frcblog.com - Latest entries September 27, 2017 at 08:32AM Arina O. Grossu, FRC\u2019s director for the Center for Human Dignity, spoke last night at the 40 Days for Life 2017 opening event in Washington, D.C. Here are her remarks: Good evening everyone. Thank you for being here. Every spring\u2026","rel":"","context":"In "News"","block_context":{"text":"News","link":"http:\/\/www.dandc.com\/?cat=11"},"img":{"alt_text":"","src":"http:\/\/ift.tt\/2fNvzze","width":350,"height":200,"srcset":"http:\/\/ift.tt\/2fNvzze 1x, http:\/\/ift.tt\/2fNvzze 1.5x, http:\/\/ift.tt\/2fNvzze 2x, http:\/\/ift.tt\/2fNvzze 3x"},"classes":[]},{"id":775,"url":"http:\/\/www.dandc.com\/?p=775","url_meta":{"origin":562,"position":5},"title":"Internal documents suggest Facebook might have exploited Android APIs to collect call and text data without permission","author":"Darren","date":"December 6, 2018","format":false,"excerpt":"via Android News, Reviews, Apps, Games, Phones, Tablets, Tips, Mods, Videos, Tutorials - Android Police December 5, 2018 at 03:00PM This March news broke that Facebook had been gathering call, SMS, and MMS metadata through Android for years with questionable levels of consent. Ars Technica\u00a0suggested that Facebook was exploiting a\u2026","rel":"","context":"In "News"","block_context":{"text":"News","link":"http:\/\/www.dandc.com\/?cat=11"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.androidpolice.com\/wp-content\/uploads\/2018\/12\/a-facebook-one-668x305.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.androidpolice.com\/wp-content\/uploads\/2018\/12\/a-facebook-one-668x305.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.androidpolice.com\/wp-content\/uploads\/2018\/12\/a-facebook-one-668x305.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]}],"_links":{"self":[{"href":"http:\/\/www.dandc.com\/index.php?rest_route=\/wp\/v2\/posts\/562","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.dandc.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.dandc.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.dandc.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.dandc.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=562"}],"version-history":[{"count":1,"href":"http:\/\/www.dandc.com\/index.php?rest_route=\/wp\/v2\/posts\/562\/revisions"}],"predecessor-version":[{"id":563,"href":"http:\/\/www.dandc.com\/index.php?rest_route=\/wp\/v2\/posts\/562\/revisions\/563"}],"wp:attachment":[{"href":"http:\/\/www.dandc.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=562"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.dandc.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=562"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.dandc.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=562"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}