With production capacity of about 600,000 barrels per day (bpd), Qatar's crude output is one of OPEC's smallest but tension within the Organization of the Petroleum Exporting Countries could weaken the supply deal, aimed at supporting prices.
U.S. crude inventories probably dropped by 3.5 million barrels last week, a ninth straight decline, according to a Bloomberg survey before the release of data from the Energy Information Administration on Wednesday.
Analysts generally attributed the price increase to concerns over supply disruptions in the region, but it should be pointed out that despite the market reaction, the actual impact of the Middle East rift on the global oil supply situation will be limited.
Investors are watching for the official data to be released by the EIA on United States stocks. Analysts expect a 3.5 million barrel decline in inventories.
According to a survey by Platts, crude production by OPEC member nations rose by 270,000 barrels a day in May, to 32.12 million barrels a day. Crude slid to its lowest level since May 9, with US benchmark futures down more than 10 percent in 10 days of trading.
Latest data show that US oil producers activated more oil rigs in the week ended June 2.
There are already doubts that the effort to curb production by nearly 1.8 million bpd is seriously denting crude exports.
With production in these countries expected to continue to grow this summer as they recover from militancy-related outages, OPEC faces a tricky period in its attempt to accelerate the market's rebalancing.
According to traders Brent crude oil futures were at $50.21 per barrel on Monday - an increase of 26 cents, or 0.5 percent.
Still, the EIA reports that the United States remained the world's top producer of petroleum and natural gas hydrocarbons in 2016 for the fifth straight year despite production declines for both petroleum and natural gas relative to their 2015 levels.
Brent crude prices were at $48.20 per barrel, down 3.8 percent, or $1.92 a barrel. Many OPEC member-nations ramped up production a year ago ahead of the production cuts so that they would have oil to sell when the production cut gets underway.
India would continue to reduce its carbon intensity, or CO2 output per unit of economic activity, in line with historic levels. The organization's main Twitter page quoted Secretary-General Antonio Guterres as saying, "Climate change is undeniable".
Weiner added that since then, he has come "to grips for the first time with the depths of my sickness". As part of his plea deal, he has agreed not to appeal any sentence of 27 months or less, Reuters says.
She said Brexit talks would begin on June 19 as scheduled, the same day as the formal reopening of parliament. Ms May called the snap election to win a clear mandate for her Brexit plans, so she could slash immigration.
The storm hit the Cape Peninsula early on Wednesday morning, which some have described as the "worst storm in living memory". On Tuesday‚ the air force and disaster management teams were put on standby as swells of up to 16 metres were predicted.
A number of barriers on various bridges have been installed by London officials since the attack to protect pedestrians. Michael Mimbo, 25, said the suspected attacker was nicknamed "Abz" at the local gym where he worked out regularly.
"I felt confident after the season once Thad and I sat down we had a good plan going into the summer", Smith said. Matta said his chronic pain wore on him through the years and his focus now is on getting healthy.
"They constantly break records - last year being 73-9 [a regular season record]; this year starting the playoffs 13-0". In Game 1 of the NBA Finals , Durant proved to his critics that he isn't riding anyone's coattails in this series.
The aircraft is 72.5 meters from nose to tail and stands 15.2 meters tall from the ground to the top of the tail. Jean Floyd, Stratolaunch's chief executive officer, said the goal is to have a launch demonstration by 2019.
Sooner surprise: Oklahoma coach Bob Stoops retires at 56
Stoops started out as the defensive backs coach for the Wildcats and ended his time in Manhattan as the co-defensive coordinator. A daughter attends Oklahoma and twin sons are seniors in high school who are potential major college football players.
Oliver Stone: Megyn Kelly Didn't Know Her Stuff with Putin
Putin took advantage of the occasion to show Stone a live broadcast with the work of the Syrian combat aircraft on his smartphone. To our knowledge, showers on most submarines are usually tiny and equipped for one person to use them at a time.
Apple Embraces VR at WWDC 17
There's also a split-view compose window that keeps the message you're replying to on one side and your new mail on the other. The browser also comes with a security tool called intelligent tracking prevention , which protects your privacy.
India set to launch heaviest satellite
Launching humans into space is a feat that so far only Russian Federation , the United States and China have achieved. The satellite GSAT-19, GSLV-Mk III delivers into orbit, weighs over 3 tons - a record for the Indian space industry.
New smart speaker expected as Apple kicks off conference
It seems like the answer lies in AirPlay, that open standard Apple has been using for ages to tether devices together. So far, the service has limited payments to purchases of products and services from companies and other organizations.
WashPost: House Intel Committee Sought 'Unmaskings' Last Year
The president's claim was refuted by former FBI Director James Comey in congressional testimony before Trump fired him last month. Ryan hasn't commented on Schiff's latest challenge or on whether Nunes should be involved in the investigation at all.
Trump faces tough task unwinding Obama Cuba policy
US businesses have established 26 agreements with the Cuban government from 2015 to 2017 as the standoff has thawed. New regulations imposed on agricultural exports could cost an additional 2,205 jobs and $1.5 billion.
Subaru WRX STI Type RA teased, to debut on June 8
Subaru likely could push this as high as 350 horses without any major mods, but I assume it'll only jump to 325 at the most. Most rear drive performance cars would have a big problem, but the STI had some fast laps on the rain-soaked track.