Oil Slips as U.S. Crude Inventories Show Signs of Increasing

Oil prices rose on Friday as involuntary supply cuts from Venezuela, Libya and Iran supported perceptions of a tightening market, already underpinned by a production reduction deal from OPEC and its allies. On the demand side, most of the world’s growth in fuel consumption is coming from Asia, where China’s economic growth is expected to slow to its lowest in nearly 30 years at 6.2 percent this year, a Reuters poll showed on Friday. Click Read More below for additional detail.

When parcel packers make mistakes, repercussions can be felt at every stage of the shipping and delivery process. Employees are more likely to worry about their job performance, damage rates increase, business is potentially lost to competitors, and the customer unboxing experience can be compromised. But thanks to the virtual reality (VR) training tools, businesses can enhance their training to get employees up to speed quickly and efficiently, while supplying them with the knowledge they need to succeed. Leading companies like Walmart are embracing VR because the technology makes simulated training sessions look and sound like real-world experiences. Due to the sensory immersion of VR training, our brains process VR as though it were reality, and that enables workers to retain far more of what they’re learning, according to NPR.

Futures were little changed in New York and are up 4.8 percent this month, after rallying 9.4 percent in September. U.S. crude inventories probably declined for a fifth time in six weeks, according to a Bloomberg survey before government data due Wednesday. Saudi Arabian Crown Prince Mohammed bin Salman said last week that he backed prolonging supply curbs, following a similar endorsement by Russian President Vladimir Putin earlier this month. Global benchmark Brent crude this month topped $60 a barrel for the first time since 2015 on hopes the Organization of Petroleum Exporting Countries and partners including Russia will prolong their curbs aimed at eliminating a glut. Prices were also boosted by fighting between Iraqi government troops and Kurdish forces in the oil-rich Kirkuk region. Still, the potential for continued supplies from U.S. shale fields is a concern. Click Read More below for additional information.