Oil climbs despite Trump’s call for OPEC to reduce pricing

Help for Motorists Is Coming as Crude-oil Prices Drop Sharply

"The OPEC Monopoly must remember that gas prices are up & they are doing little to help".

"Donald Trump's call on other countries to stop buying crude oil from Iran and putting European companies under pressure with Nigeria and Libya being crisis-stricken, Venezuela's crude oil output having plunged and Saudi Arabia's consumption increasing due to summer, would be a kind of self-harm for the United States as it would lead to dramatic price hikes in the oil market", Ardebili said. "OPEC has not defined oil prices for the past 30 years, it is a financial market and regional hubs for marker crudes who does it?" It's telling that this is his third provocation on oil prices since April. The 15 member states are Iran, Iraq, Saudi Arabia, Venezuela, the UAE, Qatar, Nigeria, Libya, Kuwait, Gabon, Equatorial Guinea, Ecuador, Congo, Angola and Algeria.

"This must be a two way street", he wrote, adding in block capitals, "REDUCE PRICING NOW!"

Oil futures were climbing on Thursday, with USA crude hovering at its highest in about 3-1/2 years as supply disruptions continue to support the market. However, at its June meeting, OPEC agreed to slightly increase oil production. On the New York Mercantile Exchange, West Texas Intermediate futures were trading up 0.24% at $74.32 a barrel.

OPEC and Russian Federation said in June they were willing to raise output to address concerns of supply shortages due to unplanned disruptions from Venezuela to Libya, and likely also to replace a potential fall in Iranian supplies due to US sanctions.

Washington blocks China Mobile from USA market
State-owned China Mobile applied to the US Federal Communications Commission (FCC) for a licence to do so in 2011. China Mobile , China Unicom and China Telecom did not immediately respond to inquiries about the NTIA statement .

America wants to cut Iran's oil exports to zero by November.

The early reaction to Trump's tweet was normal.

Outside North America, looming US sanctions against major oil exporter Iran were the focus of attention.

Ship brokerage Banchero Costa said Iran's crude oil production was now around 3.8 million barrels per day (bpd), but added "there is the risk of production decreasing going forward as exports are again affected by renewed sanctions implemented by the United States".

Hossein Kazempour Ardebili was quoted by the oil ministry's website Thursday as telling Trump to "please stop, " adding that "with your frequent and indecent tweets oil prices have gone up 10 dollars". Americans pay the second-lowest price per gallon among major economies.

Related news:

Hot News

isis-killer-beheading-video-story-top Liberty Island Evacuated As Woman Climbs Lady Liberty In Apparent Protest
Jul 05, 2018 - 17:28
Park Police told CBS News just after 4:30 p.m. "I don't think they have the right to co-opt the Statue of Liberty to do it". The agency is at the centre of the Trump administration's shelved policy of separating some immigrant families at the U.S.

isis-killer-beheading-video-story-top Ceres: NASA’s Dawn Spacecraft Closes In On Dwarf Planet, Photographs Strange Crater
Jul 05, 2018 - 17:19
"Don is like a master artist, who is adding rich details to the beauty of the other world in his close picture of Ceres ". What are these bright spots? Here is a more zoomed-in view, highlighting the central deposits of sodium carbonate .

isis-killer-beheading-video-story-top Trump pressed for Venezuela invasion, US officials say
Jul 05, 2018 - 16:45
But among Venezuela's beleaguered opposition movement, hostility to the idea of a military intervention has slowly eased. Even some of the staunchest USA allies were begrudgingly forced to side with Maduro in condemning Trump's saber rattling.

isis-killer-beheading-video-story-top Thai soccer team trapped in cave gets crash course in scuba diving
Jul 05, 2018 - 16:29
However, that was before rain lashed the area yesterday afternoon. "I'm not sure they can eat as they have not eaten for a while". They were on a ledge about 440 yards from an underground chamber called Pattaya Beach, where they moved to avoid rising water.

isis-killer-beheading-video-story-top Two people critical after 'major incident' in UK
Jul 05, 2018 - 14:27
Amesbury lies 7 miles to the north of Salisbury, where the Skripals were found slumped unconscious on a bench on March 4. Police said they initially believed the latest victims might have taken a contaminated batch of heroin or crack cocaine.

isis-killer-beheading-video-story-top UK govt outlines new initiative for LGBT communities Europe News
Jul 05, 2018 - 12:17
Dawn Butler, Labour's shadow women and equalities minister, said: "Much of this plan is yet more reviews and consultations". GETTYThis LGBT action plan will set out concrete steps to deliver real and lasting change across society.

isis-killer-beheading-video-story-top 'Monumental robbery': Maradona lashes out after England v Colombia game
Jul 05, 2018 - 10:43
The two Colombian footballers who missed penalties to hand England victory in their World Cup tie have received death threats. Fabian Delph is not on the bench for the Three Lions as he remains in England awaiting the birth of his third child.

isis-killer-beheading-video-story-top 'NCIS: Los Angeles' star Linda Hunt recovering after auto crash
Jul 05, 2018 - 09:44
The 73-year-old was said to be visibly shaken following the accident and witnesses helped her to a lawn chair on the sidewalk. The couple wanted a home that was bright, unlike other Craftsman homes in the area, including one they lived in previously.

isis-killer-beheading-video-story-top Manchester United set to announce signing of veteran goalkeeper this week
Jul 05, 2018 - 09:32
Bringing in Grant will allow Pereira to move away on a temporary spell and gain some valuable first-team experience elsewhere. 'Moving to Manchester United has been a dream of mine for as long as I can remember, ' Grant told the club website .

Steph And Ayesha Curry Welcome Third Child
Jul 05, 2018 - 08:38
Golden State Warriors point guard Steph Curry chimed in with his own Instagram post , this one sounding more like a prayer. Jack Curry and he was born a few weeks before Ayesha was due, surprising the family.

isis-killer-beheading-video-story-top China to impose $34bn tariffs before the United States as trade dispute escalates
Jul 05, 2018 - 06:24
But the last two summits in 2016 and 2017 ended without a statement due to disagreements over the South China Sea and trade. Chinese state media on Wednesday criticised the USA for imposing tariffs.

isis-killer-beheading-video-story-top Roger Federer, Serena Williams cruise into third round at Wimbledon
Jul 05, 2018 - 03:43
Top seed Federer, the eight-time champion, goes on to face either 39-year-old Ivo Karlovic of Croatia or Germany's Jan-Lennard Struff.

isis-killer-beheading-video-story-top The World Was Not Ready For Donald Trump’s Enormous FART… Act
Jul 05, 2018 - 03:14
Trump's aggressive stance on trade has roiled USA relations with allies and trading partners from Europe to China. The proposed legislation is far from a done deal, according to other media reports and the White House itself.

isis-killer-beheading-video-story-top Sony accidentally uploads entire ‘Khali the Killer’ film to YouTube
Jul 05, 2018 - 02:59
What's pretty damn shocking is that Sony took over six hours to remove the film, as it clocked over 11,000 views. The entertainment company accidentally uploaded an entire film to YouTube , instead of the trailer.

isis-killer-beheading-video-story-top European Union warns Trump that raised auto import tariffs would hurt US
Jul 05, 2018 - 02:21
By brawling with America's friends, critics say , Trump has squandered an opportunity to build a united front against China. The company has 10,000 jobs on site, as well as 40 suppliers in SC and 235 suppliers across the United States.