He also downplayed the impact of oil supplies from renewed US sanctions on Iran: "Don't worry about supply", he said, adding that this was not the first time an OPEC member had been in such a situation.
Brent crude futures LCOc1, the worldwide benchmark for oil prices, were at $78.21 per barrel at 0639 GMT, virtually unchanged from their last close and not far off a three-and-a-half year high of $78.53 a barrel reached the previous session.
West Texas Intermediate (WTI) crude for June delivery traded 24 U.S. cents lower at US$70.46 a barrel on the New York Mercantile Exchange at 2.37pm in Singapore. Tennessee gas prices rose 3 cents during the past week to $2.62 per gallon, the highest daily price since November 2014.
As such, traders should keep an eye out for exactly what European and Asian allies do following the imposition of sanctions from the USA, as this will greatly impact quite how much oil is taken off the market.
Crude oil prices are now stable - both Brent and WTI are only slightly lower. Production rates are strong, but so too are US demand and fuel exports. Total volume traded Tuesday was 17 per cent above the 100-day average.
Futures for September delivery on the Shanghai International Energy Exchange fell 1.2 percent to 465.5 yuan a barrel. The contract closed 1.1 per cent lower on Friday.
Total shale spending is expected to rise 20% year on year in 2018 and 16% in 2019, with the bulk of investment expected to flow into the USA, compared 3.5% for total non-OPEC spending this year and 8.1% the next as producers start to increase their capital expenditure. The previous round of sanctions cut Iran's output in half. Foreign ministers from the UK, France and Germany will meet with their Iranian counterpart, Javad Zarif, to discuss salvaging an accord that allows Iranian oil exports, after the U.S. withdrew last week.
Oil price is now trending towards $80 per barrel following bullish trading that heightened yesterday in the worldwide market which saw the price leap to $78 yesterday, up from $67 April average.
But Saudi Arabia could still keep supply constrained as it needs higher oil prices to fund its government.
Current estimates by investment banks that see lowered Iranian and Venezuelan supply pushing up oil prices also assume that the global-and Chinese in particular-demand growth will continue to be strong.
Stevenson is the executive director of Freedom Oklahoma, one of the advocacy groups on the frontlines of opposing State Bill 1140. David Konderla, Bishop of Tulsa. "We'll see you in court", he said in a statement.
With possible peace between North and South Korea coming closer, Koreans in the Ozarks share their point of view of the situation. The objective of the visit to Pyongyang Pompeo called " complete and verifiable denuclearization of the Korean Peninsula".
The incursion took place during a weekly mass protest in which thousands of Palestinians gathered along the Israel-Gaza frontier. Palestinians are seeking the right to return to homes from which they were displaced after the 1948 founding of Israel.
McIlroy's 74 on Friday means he only lasted two days at the tournament. "It looked like they were making birdies left and right". He finished at 8 over after an up-and-down second round that included six birdies, five bogeys and a double.
The decision overturned years of painstaking diplomacy and left European allies scrambling to save the hard-fought deal. Accepting negotiations on its missiles and regional influence would mean Iran has to make endless concessions, he said.
The network has picked up the police action drama series for a third season without Clayne Crawford , who played Martin Riggs. Previously, there were two known instances of bad behavior on set, prompting him to release a public apology on Twitter.
Taliban militants and fighters of Islamic State outfit have presence in the province, some 120 km east of Afghan capital of Kabul. At least four people had been killed and 20 wounded, a spokesman for the Nangarhar provincial governor told the media.
Castellanos was hit by a pitch in the first inning of the second game of Saturday's doubleheader , and he left soon after that. Robinson Cano was forced to leave the Mariners game Sunday against the Tigers with a fractured bone in his right hand.
Ireland's inaugural men's Test got off to a dramatic start when Pakistan debutant Imam-ul-Haq was injured on the first ball. Rankin eventually tempted Shafiq to pull to square leg on 62, giving him, Murtagh and Stuart Thompson two wickets apiece.
Take the 2017/18 Premier League end of season quiz
On 26th May, the Reds will fight for glory against Real Madrid, who have got the coveted title three out of the last four times. One, maybe two (signings)."The Spaniard confirmed he wants forwards Sergio Aguero and Raheem Sterling to stay at the club".
Nation's dream satellite Bangabandhu-I launched
EDT and Bangabandhu Satellite-1 was deployed into a geostationary transfer orbit (GTO) approximately 33 minutes after launch. The satellite will provide TV, internet and other telecom services to Bangladesh and the surrounding region.
Based AT&T calls hiring of Michael Cohen a "big mistake"
Vernon Jordan served in a fixer role for former President Bill Clinton. "Whatever lobbying was done didn't reach the president". Sanders claimed the payments actually show that the president isn't beholden to special interests.