Why is price of petrol hiked up in Malaysia?

In Reuters it was stated that oil prices  fell on rising US output,so why are prices going up in Malaysia?

12:45 am, February 01, 2017

Reuters SINGAPORE (Reuters) — Oil prices fell on Tuesday as rising U.S. drilling activity offset efforts by OPEC and other producers to cut output in a move to prop up the market.

Brent crude futures, the international benchmark for oil prices, were trading at $55.10 per barrel at 0516 GMT, down 13 cents from their last close.

Since their January peak, Brent has lost over 5.6 percent in value.

U.S. West Texas Intermediate (WTI) futures were at $52.41 a barrel, down 22 cents from their previous settlement, and WTI is down almost 3 percent since its January peak.

The falls reflect a sentiment that efforts led by the Organization of the Petroleum Exporting Countries (OPEC) to cut output by almost 1.8 million barrels per day (bpd) in order to end overproduction were not big enough to offset rising U.S. drilling.

U.S. investment bank Jefferies said that while “OPEC adherence to production targets has been strong,” growth in U.S. shale oil production was undermining OPEC’s efforts to balance global oil markets by bringing production levels in line with consumption.

“Higher prices will inevitably lead to growth in U.S. production, and activity levels are already picking up,” Jefferies said.

As a result, the bank said it is “not inclined to change our Brent price forecast — $57.75 per barrel in 2017, $71.75 per barrel in 2018.”

Following months of increased drilling, U.S. oil production has risen by 6.3 percent since July last year to almost 9 million bpd, according to data from the U.S. Energy Information Administration.

Goldman Sachs estimates that year-on-year U.S. oil “production will rise by 290,000 bpd in 2017” if a backlog on rigs that are still to become operational is accounted for.

With the differing outlook between global oil markets and that in the United States, traders said a renewed focus on the spread between Brent and WTI futures has emerged.

The Brent premium over WTI for March delivery is currently over $2.70 per barrel, reflecting a tighter global market as OPEC’s cuts bite and a more over-supplied U.S. as drilling continues to rise.

Yet by November this year, this Brent premium is down to just over $1 a barrel.Speech

Why has Ron 95 increased by 20 cents yesterday in Malaysia?

Rise of the neanderthals

Neanderthal's manual

1. Rule No. 1 :  Her job is to feed your growling stomach with grub that you have clobbered and dragged home .Some meat that you can really sink your teeth into and not those mushy stuff like stone ground grass and weed those females gather from the field coz they aint got the brains n brawns to hunt and go after the chase.(thumping his bare chest rippling with muscles )

2.Rule No. 2: Women are objects to be groped,fondled and never take no for an answer.Just sock her in the eye if she dares to say so or a few tight slaps or a punch and a kick in her stomach should teach her a thing or two about respect.A man of few words and all action means I mean business.I am the law around here.


3.Rule No. 3: Women are made to replicate and duplicate -and repopulate the nation's dropping birth rate -that's how they contribute to national domestic product-provide the labour force.


4. Rule No 4: If all else fails, get a new one.