IEA: US could lead non-OPEC oil production in 2018

The IEA expects USA to overtake Russia and Saudi Arabia in oil production by the end of the year

The kingdom will keep its crude exports below 7 million barrels per day (bpd) in March, despite a maintenance shutdown of the 400,000 bpd SAMREF refinery, the Saudi energy ministry said, confirming a plan given earlier by industry sources.

U.S. production "will soon overtake that of Saudi Arabia" and "by the end of this year it might also overtake Russian Federation to become the global leader", the IEA said.

Under the deal, the Organization of the Petroleum Exporting Countries agreed to cut output by 1.8 million barrels per day, nearly 2 percent of global supply. US crude was up 58 cents at $61.18. This would shift the expiration date of the agreement from March to the end of 2018.

OPEC and non-OPEC producers are restraining production to prop up prices under a deal that is to expire at the end of 2018.

Manhattan Bomber Sentenced to Life in Prison for 2016 Blast Injuring 30
While speaking in court Rahimi placed blame on the Federal Bureau of Investigation for not acting on his father's warning. She's still being treated for muscle spasms in her back. "You have no remorse for what you did".

'Monthly levels rose steadily throughout previous year, from 87 percent in January to December's record level, with an overall yearly average of 107 percent.

Oil producers led by Saudi Arabia and Russian Federation aim to draft an agreement on a long-term alliance by the end of this year, United Arab Emirates energy minister Suhail al-Mazroui told the local National newspaper on Thursday.

Novak met with Saudi King Salman at his palace in Riyadh on Wednesday and the two discussed producers' efforts to rebalance the market and decrease surplus inventories, Saudi state news agency SPA reported. Then the OPEC+ group cut production by 37% more than predicted, says IEA.

Surging shale production could push USA oil output to more than 10 million barrels a day - surpassing a record set in 1970.

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