Danish Siddiqui via ReutersIn a macabre twist to a situation that is already too dire to comprehend, authorities in the Indian states of Bihar and Uttar Pradesh have had to call in excavators to dig a mass grave after nearly 100 bloated and decomposing bodies were found floating in the Ganges River. Subscribe to our daily newsletter to get investing advice, rankings and stock market news. LONDON (Reuters) -Oil demand is already outstripping supply and the shortfall is expected to widen even if Iran boosts exports as vaccinations against COVID-19 bolster the global economy, the International Energy Agency (IEA) said on Wednesday. This year, the report considers topics such as the impact of the new coronavirus (COVID-19) on demand; slowing supply growth in the United States and other non-OPEC countries; and the level of spare production capacity in OPEC countries to help meet demand growth. LONDON (Reuters) - Demand for oil will exceed the output of top producers due to progress in vaccinating the world against COVID-19, the International Energy Agency (IEA) said on Wednesday. The International Energy Agency revised down its 2020 global oil demand forecast to 91.7 million barrels per day on expectations of a "treacherous" … Videos of the floating bodies have gone viral across the country, with many blaming Prime Minister Narendra Modi’s apparent negligence for his handling of the pandemic. Reduced jet and kerosene deliveries will impact total oil demand until at least 2022. OPEC+ producers have been curbing output since 2017 but have eased since imposing record high cuts last year, with more easing agreed from this month. Until the pandemic is brought under control, market volatility is likely to persist." ), but over the last few weeks, there has been an internal push to vote her out and replace her with Rep. Elise Stefanik (R-N.Y.). Learn more. Output from the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, the so-called OPEC+ group of producers, lagged demand by around by 150,000 barrels per day (bpd) in the second quarter, IEA said. Oil 2020 looks at the As more Americans receive their vaccines, spending could soon be on the rise. An oil storage tank at the Strategic Petroleum Reserve in Freeport, Texas, US. The unprecedented rally has been spurred by low borrowing rates, an increased appetite for larger homes, and a frenzy of do-it-yourself renovations during the pandemic.Unrelenting building demand means U.S. sawmills have been unable to catch up, causing suppliers to look to Europe for a reprieve as it is one of the few parts of the globe with a surplus due to a beetle infestation that killed large swaths of trees that must now be harvested. Getting inventories back down to the five-year average was, along with supporting prices, one of the aims of the OPEC+ cuts to begin with. Getting inventories back down to the five-year average was, along with supporting prices, one of the aims of the OPEC+ cuts to begin with. OGJ editors, Oil & Gas Journal | June 16, 2020. I don’t think they would have made it if I hadn’t found them,’ says farmer Jimmy Hobbs, Justin Trudeau says by September they will have enough vaccines for everyone to be fully inoculated. The Reddit community could send these stocks soaring. High-net-worth and late-in-life divorces have specific financial and emotional challenges. LONDON (Reuters) -Oil demand is already outstripping supply and the shortfall is expected to widen even if Iran boosts exports as vaccinations against COVID-19 bolster the global economy, the International Energy Agency (IEA) said on Wednesday. At 91.7 mb/d, demand has returned to its level in 2013. "Expectation that the economy and demand will recover rapidly have once again allowed Brent to climb," said Commerzbank analyst Carsten Fritsch. The IEA forecasts a net oil demand increase of around 50,000 b/d from behavior changes in 2030 as a result of the pandemic. Last month, the IEA had estimated a Q2 demand hit of almost 18 million b/d. The IEA said that global oil demand fell by 130,000 barrels per day in April from March, and remains lower than at the end of last year. If they were dumped from cremation platforms, authorities suggest families may assume they had been properly cremated. Brent crude climbed 34 cents, or 0.5% to $68.89 a barrel at 0951 GMT. It remains unclear whether the teenager will be charged as a juvenile or as an adult, Salil Zaveri claims he shot dog in self defence, ‘It’s important that we not unite with someone who is dividing our party,’ says Arkansas governor, Joseph Ventre appears to be in distress and makes pained sounds in video of arrest, Secret Service agents are prohibited from dating the people they are protecting. “You’re seeing fear more broadly with gold prices up, the dollar down, there is a flight to safety, and there is a certain amount of fear feeding into commodities markets.”China relies on just two countries -- Brazil and Australia -- for 80% of its iron ore imports. That shortfall is expected to widen to a 2.5 million bpd by year's end, the Paris-based watchdog said. "The anticipated supply growth through the rest of this year comes nowhere close to matching our forecast for significantly stronger demand beyond the second quarter," the IEA said in its monthly report, citing increased pumping from OPEC+ countries. Income investors should look for stocks that have a firm foundation along with big payouts. Voracious U.S. demand means beetle-killed wood in Europe could sell faster than expected, though international shipping and U.S. trucking constraints limit supply chain capabilities.“The other markets are getting pulled up by the U.S.,” said Geoff Berwick, vice president of business development at Atlantic Forest Products.Berwick has been importing lumber from Europe since 1999 and his job has never been easier, he said. With firewood shortages, many families have had to opt for burials, which are now being sold in some states for up to three times the normal price. Imports from Europe remained strong in the first three months of 2021, up 37% from the same period a year ago, USDA Foreign Agricultural Service data show.“European producers will always look for the best markets. Meanwhile, the Times of India has reported that funeral homes are “profiteering” by selling expensive funerals and cremations to desperate family members who want their loved ones properly laid to rest. None had identification on them, and given the extreme situation that has taxed all public offices across the country, it does not seem likely anyone will be able to identify them with certainty any time soon. Lumber prices have reached new peaks on a near daily basis in recent weeks, quadrupling from just a year ago. The updated projection, which is the IEA’s first demand downgrade in several months, marks a 140,000 barrel per day drop compared to its July demand forecast for 2020. Noah Browning Reuters ... 2020; BUZZ-COMMENT-Turkish lira's failure to rise is a … Over the weekend, the prestigious medical journal Lancet published a scathing editorial placing the blame squarely on his shoulders, saying the deadly mayhem could have been prevented. More stories from theweek.comTed Cruz walks out of gun violence hearing after failing to change the subjectLate night hosts survey the creative ways America is encouraging COVID-19 vaccinations, cure 'Foxitis'The collapse of the GOP? Coryanne Hicks and Mark ReethMay 10, 2021, Matt Whittaker and Paulina LikosMay 5, 2021, Paulina Likos and Debbie CarlsonMay 4, 2021, Investing for Retirement: How to Design A Plan that Anticipates the Unexpected, The Most Important Ages for Retirement Planning: Age 50, The Most Important Ages for Retirement Planning: Age 59 ½, The Most Important Ages for Retirement Planning: Age 65, The Most Important Ages for Retirement Planning: Age 66, The Most Important Ages for Retirement Planning: Age 70 ½. Iran's possible full reentry into the oil market, if indirect U.S.-Iranian nuclear talks succeed, would still leave production from OPEC+ producers at 1.7 million bpd short of demand, it added. It shut down on Friday when the company learned it was the target of a ransomware attack, but the pipeline is expected to be "substantially operational" by the end of the week, Granholm said. "The anticipated supply growth through the rest of this year comes nowhere close to matching our forecast for significantly stronger demand beyond the second quarter," the IEA said in its monthly report, citing increased pumping from OPEC+ countries. Pronounced stock builds were seen throughout the year due to reduced demand of crude oil and total products as the Covid-19 pandemic reduced the pace of industrial activities and mobility across the globe. It's Cheney's criticism of Trump, his false claims of election fraud, and his incitement of a mob ahead of the Jan. 6 Capitol riot that has led many Republicans to want her removed from the conference chair role, making it ironic that McCarthy wrote in his letter that the GOP is a "big tent party," and "unlike the left, we embrace free thought and debate." Here’s what you need to know. The International Energy Agency raised its 2021 and 2022 forecast for renewables, including wind and solar, after last year’s added capacity exceeded the prior year’s increase by 45%. Global oil demand is now expected to be 91.9 million barrels per day (MMbpd) this year, which the IEA highlights would be an 8.1MMbpd decline from 2019. IEA sees oil demand recovery outpacing growth in supply. Berkshire recovers from COVID-19 and announces an eventual successor to Buffett. In this Report the forecast for 2020 oil demand has been raised by nearly 500 kb/d to 91.7 mb/d, due to stronger than expected deliveries during the Covid-19 lockdown. and have not been previously reviewed, approved or endorsed by any other Separately, China’s fraying ties with Australia have added another element of risk to the market.“From Brazil, those boats are 40 days away,” Glass said. This simple measurement can help investors make quick comparisons across different companies. 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