Oil in Global Economy Series: OPEC August deal compliance review

A worker checks the valves at Al Sheiba oil refinery in the southern Iraq city of Basra File

A worker checks the valves at Al Sheiba oil refinery in the southern Iraq city of Basra File

The market was assessing Irma's effect on demand, even as refinery restarts in the wake of Hurricane Harvey boosted expectations for crude oil consumption.

Data released by the Energy Information Agency (EIA) showed USA commercial crude inventories rose by 5.9 million barrels in the week through September 8, almost doubling analysts' estimates for a rise of 3.2 million barrels. Refinery utilization rates fell by two percentage points.

Global oil demand will climb this year by the most since 2015, the IEA said, amid stronger-than-expected consumption in Europe and the U.S.

"The market is looking for a significant build in oil inventories".

HTC Ocean Life to be an Android One device
The report tells that HTC is making a new smartphone under the HTC Ocean lineup and it is internally called the HTC Ocean Life . This is the same thing that Xiaomi did for the Mi A1, which was just a rebranded version of the Mi 5X.

The hurricane forced refineries across the US Gulf Coast to shut down impacting almost 3.3 mbpd of refining capacity as per the EIA data released last week.

WTI Crude Oil (Light Sweet) price at NYMEХ Stock Exchange up by 0.44% to $48.23 per barrel. That's below the forecast for a rise of 10.1 million barrels by analysts surveyed by S&P Global Platts. But as refineries gear up for a return, oil prices could find support and product prices could start to see a correction.

The strength of the USA dollar-which plays a role in the price of oil (a stronger US dollar drives the price of oil down)-is on a slight decline trend, EIA also said.

Ratings agencies are weighing the impact of Hurricanes Harvey and Irma, two major storms systems that hit the southern United States and Caribbean islands over consecutive weeks.

Cristiano Ronaldo-led prudent Real Madrid remain favourites
Still, Napoli was one of the more hard opponents for City from the third-seeded teams and eased past Nice in the playoffs round. Real Madrid's man-in-form Marco Asensio has been ruled out of the holders' Champions League opener for the most freaky reason.

Gasoline inventories, according to the EIA fell last week, by 8.4 million barrels, generally in tune with API's estimate of a 7.896-million-barrel decline-and the largest gasoline draw on record. Discussions have included one option for a six-month extension, one person said.

Oil prices were mixed early today, but largely held on to gains in the previous session after Opec said it expected higher demand for its crude next year. The goal of the agreement is to reduce the global surplus of oil reserves and stabilize oil prices.

Opec said inventories were falling and that an increase in the price of Brent crude for immediate delivery to a premium to that for later supplies, known as backwardation, raised hopes that a long-awaited rebalancing of the market is under way.

Olive Garden brings back pasta pass, on sale Thursday
This year the Italian-style chain will celebrate the 22nd anniversary of the Never Ending Pasta Bowl. The Pasta Passes can be redeemed between 9/25/17 and 11/19/17 at any US Olive Garden location.

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