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“Hopefully, Saudi Arabia and OPEC will not be cutting oil production,” Trump wrote on Twitter. “Oil prices should be much lower based on supply!” U.S. crude turned negative and extended losses after the tweet. Oil prices had strengthened early in the session, after Saudi Arabia said the Organization of the Petroleum Exporting Countries and its partners believed demand was softening enough to warrant an output cut of 1 million barrels per day next year. Saudi Energy Minister Khalid al-Falih said OPEC and its allies agree that technical analysis shows a need to cut oil supply next year by around 1 million bpd from October levels.
Saudi Arabia, the world’s largest oil exporter, said on Sunday it would cut its shipments by half a million bpd in December due to seasonal lower demand, “We’re kind of back to square one: It sterling silver mother of pearl cushion cufflinks must feel like November 2016 to them, a lot,” said John Kilduff, a partner at Again Capital Management in New York, referring to the time period when OPEC and its allies agreed to initiate production cuts, “The Saudis and Russians, especially, rushed production to market to offset losses that aren’t materializing.”..
The market had anticipated that exports from OPEC member Iran would fall precipitously following the institution of U.S. sanctions in November. However, the U.S. has granted waivers to certain major importers of Iranian crude, diminishing the expected cuts. OPEC and the International Energy Agency release their respective monthly reports on the outlook for oil supply and demand later this week. [OPEC/M] [IEA/M]. Oil prices have fallen around 20 percent in the last month, hit by an increase in global supply and the threat of a slowdown in demand, especially from customers whose currencies have weakened against the dollar and eroded their purchasing power.
Output from the world’s top oil producers Russia, the United States and Saudi Arabia has risen by 1.05 million bpd in the last three months, based on official output figures, PRODN-SA C-RU-OUT C-OUT-T-EIA, This has left OPEC scrambling to adjust its own output, which, at sterling silver mother of pearl cushion cufflinks around 33.3 million bpd, accounts for roughly a third of global supply, An official from group member Kuwait said on Monday major oil exporters had over the weekend “discussed a proposal for some kind of cut in (crude) supply next year”, although the official did not provide any detail..
WASHINGTON (Reuters) - President Donald Trump tweeted his support on Monday for a call by a cable industry group to investigate alleged anti-competitive practices by Comcast Corp, the world’s biggest entertainment company. The American Cable Association (ACA), which represents hundreds of smaller cable and broadband providers, on Monday said in a statement that it has asked the Justice Department’s antitrust division to investigate Comcast’s business practices, “focusing on harms stemming from the dominant communications firm’s control of cable systems, TV stations, and regional sports networks concentrated in some of the largest local markets in the country.”.
Trump appeared to agree with the industry’ group’s call for a probe, which it said it made to the sterling silver mother of pearl cushion cufflinks Justice Department in a Nov, 6 letter, “American Cable Association has big problems with Comcast, They say that Comcast routinely violates Antitrust Laws,” Trump said on Twitter, Comcast’s shares dipped following the president’s tweet but quickly recovered most of their losses in a market that was broadly lower, Comcast shares were down about 0.2 percent in late trading..
It is not the first time that Trump has weighed in on regulatory issues related to media companies. In July, he said the Federal Communications Commission’s decision to reject Sinclair Broadcast Group’s purchase of Tribune Media was “disgraceful.” Two years ago, when Trump was the Republican presidential candidate, he had denounced AT&T Inc’s deal to buy Time Warner Inc, whose businesses included CNN, which Trump has repeatedly attacked. The ACA said in its call for a probe that with the expiration of requirements that were imposed on Comcast following its 2011 acquisition of NBC Universal, its “ability to raise programming prices in local markets is unmatched by any similar problem created by the AT&T-TW combination.”.
The ACA said it was particularly concerned about its members’ access to regional sports networks, “ACA expects – and there is every reason for DOJ (Justice Department) to expect — Comcast-NBCU to act on its natural incentives and use its capabilities to harm rivals, unless the government somehow, either through structural or behavioral remedies, deals with them,” the group said in its sterling silver mother of pearl cushion cufflinks letter, Comcast did not respond to the president’s tweet, but said that the ACA letter was “without merit and constitutes an inappropriate attempt to gain leverage in the commercial marketplace.”..