DEPRESSING OIL PRICES
West Texas Intermediate and Brent headed for a second weekly drop as Libya prepares to resume exports from two terminals and amid speculation that Iraq's crude production will remain unaffected by violence.
WTI futures were little changed in New York after falling for a sixth day yesterday, the longest losing streak since May 2012. Libya will start shipping from Es Sider and Ras Lanuf at full capacity after taking back control of the ports from rebels, according to National Oil Corp. Fighting in Iraq hasn't spread to the south, home to more than three-quarters of its output. Hurricane Arthur made landfall on the U.S. East Coast and may reduce driving over the Fourth of July…
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South Korea's economy has been pushing to shed its heavy reliance on coal and nuclear power, with the latest target coming on top of a 2017 plan to increase the amount of renewables in its energy mix to 20 percent by 2030.
The International Monetary Fund (IMF), has forecast the UAE’s nominal Gross Domestic Product (GDP) to grow 4.7 percent to AED1.673 trillion in 2019, compared to AED1.589 trillion a year ago.
the goods and services deficit was $49.4 billion in February, down $1.8 billion from $51.1 billion in January,
BHGE - U.S. Rig Count is down 10 rigs from last week to 1,012, with oil rigs down 8 to 825, gas rigs down 2 to 187, and miscellaneous rigs unchanged at 0. Canada Rig Count unchanged from last week at 66, with oil rigs up 1 to 19 and gas rigs down 1 to 47.