Meanwhile, U.S.net imports of crude oil USOICI=ECI fell last week by 1.6 million bpd to 4.98 million bpd, the lowest level since the EIA started recording the data in 2001, reflecting further erosion in a market OPEC has been relying on for decades.
USA crude oil production has risen by a fifth since mid-2016 to more than 10 million bpd.
"Our view is demand will be strong enough, but we don't see a big breakout", said Natixis oil analyst Joel Hancock, adding he expected a price in the range of US$60 to US$70 this year.
By 1:12 p.m. Eastern time (1812 GMT), Brent was down 67 cents to $66.83 a barrel, while U.S. West Texas Intermediate crude CLc1 fell 72 cents to $63.18.
Crude oil prices were hovering near two-week highs on Monday, a possible effect of Saudi Arabia's statement on plans to continue cutting output levels and as last week's upbeat US supply data also continued to support.
"All the indicators that suggest continued fast growth in the USA are in ideal alignment; rising prices leading, after a few months, to more drilling, more completions, more production, and more hedging", the IEA said, warning that the surge in non-OPEC supply-led by the USA -could tip the oil market into deeper oversupply, again.
NY regulator asks Deutsche, other banks about Kushner loans
Kushner's company, which he left to take his position in the White House previous year , is also being investigated by the U.S. Kushner's firm has sought investments from the Chinese insurer Anbang and from the former prime minister of Qatar.
London Brent crude slipped 3 cents to $67.28 a barrel, after climbing nearly 4 percent last week.
Consider this: in January 2017, US crude oil production mounted to 8.82 million barrels per day.
Analysts said that without a smooth exit from the pact, global inventories may drop sharply and trigger a potentially damaging price rise.
US oil is also increasingly being exported, including to the world's biggest and fastest growing markets in Asia, eating away at OPEC and Russian market share. The most active USA gasoline futures RBc2 fell as much as 3.1 percent to $1.9354 a gallon. Analysts had expected an increase of 2.1 million barrels. It's not out of the question to see a USA production record for oil soon. Why? "Global oil fundamentals have been improving ever since OPEC and its allies agreed for production cuts, and the demand story is still supporting prices". While America continues to pump record volumes, accompanied by an increase in exports, Al-Falih said the global oil market is re-balancing and bloated inventories are shrinking. Wednesday's release showed weekly production rose again to 10.3 million bpd. A stronger dollar makes oil more expensive for holders of other currencies.
Prices were pressured earlier after three of the world's top crude consumers- China, India and Japan - reported a slowdown in monthly factory activity.
After a soggy start to our Thursday , a passing cold front has pushed most of the wet weather off to our east. The rain chances are up on both days, and so it's best to be prepared for some rain and have your umbrella.
Under Iraq's anti-terror laws, anyone found guilty of joining Isis, including non-combatants, can be given the death penalty. Iraq declared victory in December over Daesh, which had seized control of almost a third of the country in 2014.
Ciantar said he has friends who did know McArthur and added, "They all said that they never would have suspected him". Navaratnam, 40, went missing in September, 2010, and was the focus of a police investigation called Project Houston.
It received 11 votes in favor, two against - Russian Federation and Bolivia - while China and Kazakhstan abstained . Britain drafted the failed U.N. resolution in consultation with the United States and France.
Raja has also handpicked South Africa T20 skipper JP Duminy to be the most successful player in the PSL. Meta: Karachi Kings will take on Peshawar Zalmi in the seventh fixture of PSL 2018 at Dubai on Sunday.
Pitino issued denials of wrongdoing before and after he was sacked at Louisville in October, and Miller has pleaded innocent. Bilas also demanded Arizona put Miller on administrative leave and bench Ayton until the matter can be investigated fully.
That means the Russians will again march under the "Olympic Athletes from Russia " name and the Olympic flag. Vyacheslav Voinov had given OAR the lead in the first period before Felix Schutz drew Germany level.
He also condemned what he said were the false accusations of a systematic campaign of abuse against churches and Christians. The status of Jerusalem has always been a point of contention, as both Israel and Palestinians claim the city.
It will be a tribute to the 1949 Los Angeles tent revivals that made Graham famous, said family spokesman Mark DeMoss. Crowds lined up to see Billy Graham's funeral motorcade bring his casket from Asheville to Charlotte on Saturday.
Gareth Anscombe started and had a decent game at 15 and 10, where he switched in the second half after Patchell was taken off. I think it would be insane to underestimate this game and underestimate Scotland at home in Glasgow.
These are my highlights from Warren Buffett's annual letter
Thakkar of PPFAS MF said the drawdown reference was more in relation to the leverage that people undertake while acquiring stocks. His latest newsletter reports that Berkshire's net earnings a year ago rose from US$24.07 billion to US$44.94 billion.
Asus launches iPhone X clone ZenFone 5 - complete with notch
Asus also introduced a new feature called Zenmoji, and as the name itself suggests, it's a rip off to iPhone X's Animoji feature. This variant has the 12MP Sony IMX363 sensor with 1.4µm pixel size and the other 12MP sensor is a 120-degree wide-angle camera.
Bournemouth AFC 2-2 Newcastle United
Bournemouth staged a second-half comeback to secure a 2-2 draw with Newcastle United in the Premier League on Saturday. Despite the result, Bournemouth remain in the top half of the table .