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That effort has pushed oil prices above $50 a barrel in recent months, breathing life into US oil patches like the Permian Basin.
This week's draw in crude oil inventories is only the sixth draw in the last 15 weeks, using API data, with the API still reporting an overall hefty build over the previous 15 weeks of roughly 37.9 million barrels.
Benchmark Brent crude futures LCOc1 slid 24 cents, or 0.4 percent, to $55.62 a barrel in early Asian trade.
Canada continued to be the largest source of US crude oil imports in 2016, providing a record 3.3 million b/d, or 41% of total USA imports-more than all Organization of the Petroleum Exporting Countries (OPEC) combined.
Despite OPEC's cuts, oil producers around the world still put out 430,000 barrels a day more than worldwide markets could absorb in the first quarter, according to the report.
OPEC countries cut oil output in March by more than they pledged, according to figures the group published in a monthly report, as it sticks to an effort to clear a supply glut that has weighed on prices.
OPEC upgraded its 2017 global demand growth forecast to 1.27 million barrels per day, an upwards revision of 10,000 barrels per day as thirst from Asia rises.
According to a report by Wall Street Journal, Saudi Arabia has informed other members of the oil organisation that it wants to extend a coordinated production cut beyond the first half of this year.
While compliance from some participants has been patchy, Saudi Arabia has made significant cuts, with production down 4.5 per cent since late 2016, despite a slight increase in March to 9.98 million bpd.
Despite the gloomy data, oil investors are holding out hope for short-term good news about a decline in US stocks.
"Positive momentum continued in the country's private sector as suggested by Stanbic IBTC Bank Nigeria PMI", OPECsaid in its monthly report. Visit MarketWatch.com for more information on this news.
But OPEC revised up its estimate of oil supply growth from producers outside the group this year to 580,000 bpd, as higher oil prices following the supply cut help spur a revival in US shale drilling.
The threat from United States shale was laid bare in the report, however, with OPEC analysts increasing their forecast for USA production growth by 200,000 bpd to 540,000 bpd this year.
In 1993, 18 U.S. special forces personnel were killed in the incident dramatised in the Hollywood film Black Hawk Down . Meanwhile, fighters pledging allegiance to the Islamic State group have emerged in the northern part of the country.
The miss against Utah dropped his 3PT percentage to 35.1-35.051, to be exact-a single miss away from falling to 34.8 percent. As The Vertical's Bobby Marks points out, Harkless went into Portland's final game of the regular season at 35.1 percent.
Anne Mellinger Birdsong, a pediatrician and member of Mothers & Others for Clean Air, said in a statement. In Nebraska, Grand Island is ranked as one of the cleanest US cities with short term particle pollution .
Google will allow apps and competing search engines to be pre-loaded on devices, with a new tool to select the latter. The deal also makes it possible for other applications to be pre-installed on Android devices in Russian Federation .
After the game, Larry Bird of the Celtics said: "I didn't think anyone was capable of doing what Michael has done to us". Stevens wouldn't discuss who the team's best - or worst - players have been over the first two games of the series.
Prime Minister Narendra Modi will arrive in Bhubaneswar around 3.45pm to attend a power-packed BJP national executive meet. BJP supporters raised slogans of "Modi-Modi" and "Vande Mataram" and some showered flowers on the Prime Minister.
One more day of showers is forecast for Sacramento before almost a week of sunshine, according to the National Weather Service . This activity should slide across the region later Thursday afternoon and especially Thursday night .
Planning ahead, Shakespeare booked Morgan in for some late-night fitness work. He said: "We need to be competitive against a real competitive Palace team".
Apple Wants To Make Your iPhone A Lot More Eco-Friendly
While this is great for Jobs' Mob, it means that users are forced to buy new gear, which places a strain on the environment. The "renew" programme primarily targets Apple's own products but also accepts mobile phones from other manufactures.
Three New iPhones Coming; Release Possibly Delayed
In addition, Macotakara believes that the rumored vertical dual camera orientation on the back will make VR features possible. Japanese blog, Mac Otakara has published a report about the latest rumours of Apple's upcoming handset, the iPhone 8.
Pence says US will review FTA signed with South Korea
Defense Secretary Jim Mattis said on April 18, adding that the United States was "working closely" with China to engage Pyongyang. Pence signed baseballs for players and was presented with two jerseys at Wednesday's gathering with dozens of young ballplayers.
ACC will make up year lost at NC venues
If North Carolina does not get a bid today, experts say it could cause the state at least $250 million over the next five years. Pittsburgh made out big in gaining major NCAA Division I championship events.
Iran says supports extending oil output cuts
Before the weekend, gas prices rose an average of 12 cents in 19 days nationwide and by 13 cents in 18 days in Georgia. The agency's data shows that demand is growing at a constant and regular pace in the oil market.
La La Anthony separates from NY Knicks basketball star
The site added he is concerned about his son, and does not want to uproot him from his school in New York City if he is traded. There have been reports of marriage difficulties the past few months involving Carmelo's in-question New York Knicks career.
Jailed Palestinians Join Hunger Strike Led By Marwan Barghouti
In 2011, Israel swapped more than 1,000 Palestinian prisoners for an Israeli soldier who had been held by Hamas for five years. The Arab League called on Sunday for worldwide protection for Palestinian prisoners held by Israel, Anadolu has reported.
Boy killed in classroom was 'happy child' with rare disorder
The family of Jonathan Martinez , the 8-year-old student killed in the shooting, did not wish to speak publicly, Marsden said. However, the other student was reported to be in stable condition after originally described as being in critical condition.
Uber lost $2.8 billion last year
But Uber's losses grew to $991 million in the period, as revenues grew 74 percent to $2.9 billion from the third quarter. Factoring in its China subsidiary, which it sold in July, the number is likely greater than $3 billion for the year.