Key Currency Exchange Rates for Friday, 8/19/22

Futures rose 0.8 percent after advancing 0.6 percent on Monday, rebounding from a weekly loss. Crude stockpiles probably slid by 750,000 barrels last week, a Bloomberg survey showed before an Energy Information Administration report due Thursday. Oil last week fell the most since May on speculation rising global output may offset supply curbs led by members of the Organization of Petroleum Exporting Countries. The output-cuts deal is set to expire at the end of March and the group is likely to discuss an extension at its next meeting on Nov. 30. Its de facto leader, Saudi Arabia, said state oil company Saudi Aramco will ship 560,000 barrels a day less than customers are requesting in November. Saudi Aramco plans to supply 7.15 million barrels a day “despite very strong demand” that exceeds 7.7 million barrels a day, the Saudi Energy Ministry said in a statement. Click Read More below for more of the story.

International technology Group ANDRITZ has successfully started up the MDF line II supplied to Panel Plus MDF Co. Ltd., based in Bangkok, Thailand, for its mill in Hat Yai. The pressurized refining and chip washing system supplied by ANDRITZ is the centerpiece of the line. It has a capacity of 30 bdmt/h and is characterized by low specific energy consumption as well as excellent reliability. The chip washing system using the ANDRITZ sedimentation technology is the first of its kind to be delivered to Thailand and will be used mainly for sand removal. The scope of supply also included a maintenance-friendly ANDRITZ C-Feeder that ensures minimum energy consumption, higher system stability, and longer refiner plate lifetime. Click Read More below for additional information.

National Average Price for Regular – Current: $2.601; Month Ago: $2.486; Year Ago: $2.277. National Average Price for Diesel – Current: $2.992; Month Ago: $2.870; Year Ago: $2.510. http://gasprices.aaa.com/