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Saudis, other oil giants announce surprise production cuts

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Saudis, other oil giants announce surprise production cuts


DUBAI, United Arab Emirates — Saudi Arabia and different main oil producers on Sunday introduced shock cuts totaling as much as 1.15 million barrels per day from Might till the top of the 12 months, a transfer that would increase costs worldwide.

Increased oil costs would assist fill Russian President Vladimir Putin’s coffers as his nation wages conflict on Ukraine and drive People and others to pay much more on the pump amid worldwide inflation.

It was additionally more likely to additional pressure ties with the US, which has referred to as on Saudi Arabia and different allies to extend manufacturing because it tries to convey costs down and squeeze Russia’s funds.

The manufacturing cuts alone might push U.S. gasoline costs up by roughly 26 cents per gallon, along with the same old enhance that comes when refineries change the gasoline mix throughout the summer season driving season, mentioned Kevin E book, managing director of Clearview Vitality Companions LLC. The Vitality Division calculates the seasonal enhance at a median of 32 cents per gallon, E book mentioned.

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So with a median U.S. worth now at roughly $3.50 per gallon of normal, in response to AAA, that would imply gasoline over $4 per gallon throughout the summer season.

Nonetheless, E book mentioned there are a variety of advanced variables in oil and fuel costs. The scale of every nation’s manufacturing reduce is determined by the baseline manufacturing quantity it’s utilizing, so the reduce won’t be 1.15 million. It additionally might take a lot of the 12 months for the cuts to take impact. Demand might fall if the U.S. enters a recession attributable to the banking disaster. But it surely additionally might enhance throughout the summer season as extra folks journey.

Despite the fact that the manufacturing reduce is simply about 1% of the roughly 100 million barrels of oil the world makes use of per day, the impression on costs could possibly be huge, E book mentioned.

“It is a huge deal due to the best way oil costs work,” he mentioned. “You’re in a market that’s comparatively balanced. You’re taking a small quantity away, relying on what demand does, you may have a really vital worth response.”

Saudi Arabia introduced the largest reduce amongst OPEC members at 500,000 barrels per day. The cuts are along with a discount introduced final October that infuriated the Biden administration.

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The Saudi Vitality Ministry described the transfer as a “precautionary measure” geared toward stabilizing the oil market. The cuts symbolize lower than 5% of Saudi Arabia’s common manufacturing of 11.5 million barrels per day in 2022.

Iraq mentioned it might scale back manufacturing by 211,000 barrels per day, the United Arab Emirates by 144,000, Kuwait by 128,000, Kazakhstan by 78,000, Algeria by 48,000 and Oman by 40,000. The bulletins had been carried by every nation’s state media.

Russia’s Deputy Prime Minister Alexander Novak in the meantime mentioned Moscow would lengthen a voluntary reduce of 500,000 till the top of the 12 months, in response to remarks carried by the state information company Tass. Russia had introduced the unilateral discount in February after Western nations imposed worth caps.

All are members of the so-called OPEC+ group of oil exporting nations, which incorporates the unique Group of the Petroleum Exporting International locations in addition to Russia and different main producers. There was no instant assertion from OPEC itself.

The cuts introduced in October — of some 2 million barrels a day — had come on the eve of U.S. midterm elections during which hovering costs had been a serious situation. President Joe Biden vowed on the time that there can be “penalties” and Democratic lawmakers referred to as for freezing cooperation with the Saudis.

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Each the U.S. and Saudi Arabia denied any political motives within the dispute.

Since these cuts, oil costs have trended down. Brent crude, a world benchmark, was buying and selling round $80 a barrel on the finish of final week, down from round $95 in early October, when the sooner cuts had been agreed.

Analysts Giacomo Romeo and Lloyd Byrne at Jefferies mentioned in a analysis be aware that the brand new cuts ought to enable for “materials” reductions to OPEC stock sooner than anticipated and will validate latest warnings from some merchants and analysts that demand for oil is weakening.

Kristian Coates Ulrichsen, a Gulf professional at Rice College’s Baker Institute for Public Coverage, mentioned the Saudis are decided to maintain oil costs excessive sufficient to fund formidable mega-projects linked to Crown Prince Mohammed bin Salman’s Imaginative and prescient 2030 plan to overtake the financial system.

“This home curiosity takes priority in Saudi decision-making over relationships with worldwide companions and is more likely to stay some extent of friction in U.S.-Saudi relations for the foreseeable future,” he mentioned.

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Saudi Arabia’s state-run oil big Aramco not too long ago introduced document earnings of $161 billion from final 12 months. Earnings rose 46.5% when in comparison with the corporate’s 2021 outcomes of $110 billion. Aramco mentioned it hoped to spice up manufacturing to 13 million barrels a day by 2027.

The decades-long U.S.-Saudi alliance has come beneath rising pressure lately following the 2018 killing of Saudi dissident Jamal Khashoggi, a U.S.-based journalist, and Saudi Arabia’s conflict with the Iran-backed Houthi rebels in Yemen.

As a candidate for president, Biden had vowed to make Saudi Arabia a “pariah” over the Khashoggi killing, however as oil costs rose after his inauguration he backed off. He visited the dominion final July in a bid to patch up relations, drawing criticism for sharing a fistbump with Crown Prince Mohammed.

Saudi Arabia has denied siding with Russia within the Ukraine conflict, even because it has cultivated nearer ties with each Moscow and Beijing lately. Final week, Aramco introduced billions of {dollars} of funding in China’s downstream petrochemicals business.

Copyright 2023 NPR. To see extra, go to https://www.npr.org.

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Clemson vs South Carolina live score updates, highlights, how to watch with Tigers’ CFP hopes alive

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Clemson vs South Carolina live score updates, highlights, how to watch with Tigers’ CFP hopes alive


CLEMSON — No. 12 Clemson football looks to close its regular season with a win against its most-hated rival.

The Tigers (9-2), who are No. 12 in the latest CFP rankings, look to boost their CFP résumé against No. 14 South Carolina (8-3) on Saturday (noon ET, ESPN) at Memorial Stadium. They eye an ACC championship bid after finishing conference play 7-1 but need Miami to lose to Syracuse on Saturday (3:30 p.m. ET, ESPN) to make it. If they don’t make the ACC title game, they look to earn a CFP at-large bid, needing to defeat the Gamecocks and hope teams above them stumble like some did last week.

South Carolina, which is No. 15 in the latest CFP rankings, is one of the hottest in the nation, winning five straight games including three against opponents who were ranked at the time, and has an outside shot at a CFP at-large bid too. During its win streak, it is averaging 39.4 points per game and allowed only 15.6 points. It is led by second-year quarterback LaNorris Sellers, who has 2,110 yards passing for 17 touchdowns and six interceptions.

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This will be the 121st matchup between these two programs with Clemson leading the all-time series 73-43-4.

Watch Clemson football vs South Carolina live on Fubo (free trial)

Clemson vs South Carolina score updates

This section will be updated when the game begins.

Clemson vs South Carolina time today

  • Date: Nov. 30
  • Time: Noon ET
  • Location: Memorial Stadium

What channel is Clemson vs South Carolina game on today?

Clemson vs. South Carolina will be broadcast nationally on ESPN. Roy Philpott and Sam Acho will call the game from the booth at Memorial Stadium, with Taylor Davis reporting from the sidelines. Streaming options for the game include FUBO, which offers a free trial to new subscribers.

Clemson vs South Carolina history

  • Series record: Clemson leads, 73-43-4
  • Clemson’s last win: Nov. 25, 2023, 16-7
  • South Carolina’s last win: Nov. 26, 2022, 31-30

Clemson vs South Carolina prediction

South Carolina 28, Clemson 24: The Gamecocks are one of the hottest teams in FBS led by a ferocious pass rush and a potent offense. Tigers quarterback Cade Klubnik will be pressured, while South Carolina quarterback LaNorris Sellers will exploit Clemson’s defense, a unit that has been susceptible to explosive plays.

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Clemson vs South Carolina betting odds

Game lines and odds from BetMGM as of Saturday:

  • Spread: Clemson (-2.5)
  • Over/under: 49.5
  • Moneyline: Clemson (-140), South Carolina (+115)

Clemson vs South Carolina injury updates

Clemson: Tight end Jake Briningstool and safety R.J. Mickens are expected to play. Left tackle Tristan Leigh, left guard Marcus Tate, defensive tackle DeMonte Capehart and linebacker Wade Woodaz are day to day, according to Tigers coach Dabo Swinney.

South Carolina: Wide receiver Jared Brown is expected to play. Wide receiver Vandrevius Jacobs is out. Tight end Josh Simon’s status is unclear for Saturday.

Clemson football 2024 schedule

  • Aug. 31: No. 6 Georgia 34, Clemson 3
  • Sept. 7: Clemson 66, Appalachian State 20
  • Sept. 14: OPEN
  • Sept. 21: Clemson 59, NC State 35
  • Sept. 28: Clemson 40, Stanford 14
  • Oct. 5: Clemson 29, Florida State 13
  • Oct. 12: Clemson 49, Wake Forest 14
  • Oct. 19: Clemson 48, Virginia 31
  • Oct. 26: OPEN
  • Nov. 2: Louisville 33, Clemson 21
  • Nov. 9: Clemson 24, Virginia Tech 14
  • Nov. 16: Clemson 24, Pitt 20
  • Nov. 23: Clemson 51, The Citadel 14
  • Nov. 30: vs. No. 14 South Carolina, noon ET (ESPN)

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South Carolina football 2024 schedule

  • Aug. 31: South Carolina 23, Old Dominion 19
  • Sept. 7: South Carolina 31, Kentucky 6
  • Sept. 14: LSU 36, South Carolina 33
  • Sept. 21: South Carolina 50, Akron 7
  • Sept. 28: OPEN
  • Oct. 5: No. 16 Ole Miss 27, South Carolina 3
  • Oct. 12: No. 13 Alabama 27, South Carolina 25
  • Oct. 19: South Carolina 35, Oklahoma 9
  • Oct. 26: OPEN
  • Nov. 2: South Carolina 44, No. 19 Texas A&M 20
  • Nov. 9: South Carolina 28, Vanderbilt 7
  • Nov. 16: South Carolina 34, No. 24 Missouri 30
  • Nov. 23: South Carolina 56, Wofford 12
  • Nov. 30: at No. 12 Clemson, noon ET (ESPN)

Clemson football news

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No. 15 South Carolina at No. 12 Clemson: Preview and Prediction

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No. 15 South Carolina at No. 12 Clemson: Preview and Prediction


CLEMSON — The 121st edition of the Clemson-South Carolina game is already like no other.

This year’s game will have more at stake than bragging rights, as the winner of the game will be in position to earn an at-large bid to the College Football Playoff.

“It’s fun to be a part of it,” Clemson head coach Dabo Swinney said.

The Tigers come into their regular season-finale ranked No. 12 in the latest CFP rankings, while the Gamecocks are ranked No. 15.

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Carolina is riding a five-game winning streak coming in, while Clemson has won its last three games.

“I love it. I love being in the fight,” Swinney said. “I love the fact y’all are going to write horrible things about us on Sunday if we stink this up. That’s okay, it comes with it. This is what we signed up for.

“I love the fact, that even if we do not play well, and we find a way to win, we are going to be great. It just comes with it. It is what you sign up for. It’s a rivalry game.”

And it could be the best one yet.

No. 15 South Carolina (8-3) at No. 12 Clemson (9-2)

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Kickoff: Saturday, noon

Location: Memorial Stadium, Clemson

TV: ESPN

Spread: Clemson -2.5

Over/Under: 49

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Series: Clemson leads series 73-43-4

WHAT’S AT STAKE?

Normally, it’s just bragging rights. However, there is more on the line than bragging rights this season. The winner of the game puts itself in position to make the College Football Playoff. Clemson, which sits at No. 12, needs a win over the Gamecocks, plus someone to lose above them to get in. A win over No. 15 Carolina could also give the Tigers the win they need to jump over No. 10 Indiana in the rankings. The Gamecocks need to beat Clemson and then a loss from Ole Miss, Alabama and someone else in the top 10 to be able to move into the CFP picture.

KEY MATCHUP

This game is going to be won or lost when South Carolina has the football. Quarterback LaNorris Sellers is an up-and-coming star in the SEC, as he has improved throughout the season. Running back Rocket Sanders (821 yds, 11 TDs) teams up with Sellers (489, 5 TDs) to give the Gamecocks a strong running game. Clemson has struggled at times to stop the run this season, but the Tigers have held five of their last six FBS opponents to 88 or less yards on the ground. Clemson also ranks 18th nationally in tackles for loss (77), while Carolina ranks 128th in TFLs allowed (85).

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PLAYERS TO WATCH

South Carolina tight end Joshua Simon leads the Gamecocks in receptions (31), reception yards (433) and touchdown receptions (6). Clemson will likely deploy a 4-3 scheme to try and slow down Carolina’s strong running game. Though Sammy Brown is a wrecking ball in the run game, and at the line of scrimmage, he can be a liability in pass coverage, so look for the Gamecocks to try and exploit this weakness with Simon in the middle of the field.

Clemson left tackle Tristan Leigh. It’s rare to highlight an offensive tackle in any game, much less a game of this magnitude, especially considering Leigh is questionable for the game. But the Tigers need Leigh to play, so it can sure up some of the holes it has on the O-line due to so many injuries this year. It will allow new offensive line coach Matt Luke to move Harris Sewell back to left guard where he started the Virginia Tech and Pitt games. It will also move Blake Miller back to his natural position at right tackle and Walker Parks back to his usual spot at right guard. In other words, the Tigers will have continuity on the offensive line for the first time since the Louisville game when all the injuries started to pile up. Going against Carolina’s dynamic defensive front, especially defensive ends Kyle Kennard and Dylan Stewart is going to be a difficult task regardless, but having Leigh back would be huge for the Tigers.

THIS AND THAT

Clemson is entering the South Carolina game having won eight of the last nine games in the series. The Tigers have outscored the Gamecocks by an average of 21.1 points per game in that span.

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FINAL ANALYSIS

Clemson’s offense is ranked sixth in the country in total yards (469.9 ypg). South Carolina’s defense is ranked 13 nationally (303.6 yds allowed/game) in total defense. Something has to give, right? Or does it? I like the matchup for Clemson when the Gamecocks have the football. Carolina’s offensive line has a hard time holding blocks and gives up a lot of TFLs and sacks. Sellers also tends to put the ball on the ground at times, as does the offense as a whole. The Gamecocks have fumbled 21 times this year, which ranks 125th in the country. They have lost 11 of those fumbles, which ranks 126 nationally. The Tigers on the other hand have taken care of the football for the most part, ranking third nationally in turnover margin (+13) and have forced 20 turnovers, which ranks 14th nationally. I think this will be the difference in the game and help the Tigers earn a second straight win over the Gamecocks.

PREDICTION

Clemson 27, South Carolina 23

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Staff Picks: South Carolina at Clemson, other Week 14 rivalry matchups

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Staff Picks: South Carolina at Clemson, other Week 14 rivalry matchups


The wait is almost over. At long last, rivalry weekend is upon us.

In what will be one of the biggest games of the weekend, No. 15 South Carolina will travel to the upstate to face No. 12 Clemson for the Palmetto Bowl. Kickoff is at noon on ESPN on Saturday.

The GamecockCentral and 107.5 The Game staffs shared their predictions for the game between the Gamecocks and Tigers as well as other Week 14 matchups from around the country. 

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George Bagwell: I think this is a bad matchup for Clemson. They’re not working with a great offensive line while they face an elite defensive front. They just gave up 288 rushing yards to The Citadel, the most against a Clemson defense since Georgia in 2014, and now they’re facing a highly efficient run-based offense in South Carolina. South Carolina 38, Clemson 20.

Peyton Butt: This could honestly go either way so making a prediction was a challenge. Clemson has struggled with some injuries thus far but the two are pretty evenly matched. I think the game being at Clemson will be a huge advantage and boost for the Tigers. Gamecock defense will have to put pressure on Cade Klubnik fast but I think Klubnik’s accuracy and consistency will be a problem for the Gamecocks. Clemson 45, South Carolina 28.

Elijah Campbell: It’s one of the most highly anticipated games in the history of this great rivalry and for the first time since I was in high school, I really feel like this Gamecocks team will go into Clemson and win. Shane Beamer said that forcing turnovers is a must and I agree. I also see the Kennard and Stewart edge rushing combo working perfectly to force one of the key turnovers as well as keeping Clemson’s rushing attack at bay. Give me the Gamecocks in a thriller! South Carolina 21, Clemson 17.

Chris Clark: I think this South Carolina team is battle-tested and will have an advantage at the line of scrimmage on defense. I expect a competitive game, but I’m taking the Gamecocks to get it done on the road. South Carolina 27, Clemson 20.

Terry Ford: USC wins a tight one on the road. The way the Gamecocks offense has come on to go along with one of the best defenses in America make Carolina tough to beat. Plus, USC has been real good on the road all year. Stat to file away…ESPN SP+ Special Teams Rankings Nationally: Gamecocks 42nd…Tigers 109th. South Carolina 23, Clemson 20.

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Griffin Goodwyn: Recent history would say that the Gamecocks are expected to struggle when they head to Memorial Stadium on Saturday. South Carolina has lost three of its last four road matchups against Clemson, and those three defeats were by a combined 88 points. But the Gamecocks’ last trip to the Tigers’ home stadium was a different story, as they claimed a 31-30 victory facing long odds as an unranked team looking to take down a top-10 squad with College Football Playoff aspirations. The postseason stakes are higher for both teams in this year’s Palmetto Bowl, and so is the possibility of an upset. South Carolina is in the midst of a five-game win streak — and is in prime position for a sixth-straight victory. South Carolina 28, Clemson 27.

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Tyler Head: High stakes game. Gamecocks have to slow down the Tigers rushing attack. I think Sellers has another star making performance. South Carolina 34, Clemson 31.

Wes Mitchell: South Carolina’s defensive line has carried it all season long and I don’t think that will stop this week, especially against a Clemson offensive line that has been banged up. The key will be can the Gamecocks protect the football, not let the moment be too big, and just do what they do otherwise. South Carolina 31, Clemson 21.

Jay Philips: Here we are, a Carolina/Clemson game that really matters for both teams beyond the daily rivalry. The Gamecocks are playing some of the best football in the country and will feel no fear in traveling to Memorial Stadium this weekend. Based on their form I think Carolina is the slightly better team, and if they continue on their current path they should win this game. In a tense contest give me South Carolina 30, Clemson 23.

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Kendall Smith: I could write a long paragraph about why I am going with this final score, but all I’m going to say is I think this game belongs to the Gamecocks if they play to their potential. South Carolina 27, Clemson 23.

Mike Uva: Two teams with strong defenses who have QBs who have improved throughout the year. This should be an instant classic, especially with the college football playoff hopes hovering both these teams. South Carolina 20, Clemson 17. 

Jack Veltri: I’ve said it since the summer that South Carolina would beat Clemson this year, and that was before any of us knew the Gamecocks would be where they are today. I still feel they’re going to get the job done. They’ve faced all kinds of adversity this season and handled it well. The key here will be to take care of the football on offense and the defense creates takeaways. South Carolina 34, Clemson 28.

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Chris Wellbaum: Which quarterback do you trust against which defense? Both teams will try to lean on their run game, and the defense that can force some turnovers will win the game. Clemson 31, South Carolina 16.

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Kevin Miller: In one of the most anticipated matchups in recent rivalry history, South Carolina and Clemson are both ranked and holding on to slight hope for the College Football Playoff. The Gamecocks have played better than the Tigers in recent weeks, but the game is in the Upstate. In classic rivalry fashion, this game could come down to the football cliches: turnovers, 3rd-down conversions, and explosive plays. Give me the Gamecocks in a tight one: South Carolina 27, Clemson 24.

Tennessee at Vanderbilt Michigan at Ohio State (The Game) Auburn at Alabama (Iron Bowl) Notre Dame at Southern Cal (The Battle for the Jeweled Shilleagh) Oklahoma at LSU Texas at Texas A&M (Lonestar Showdown) Marshall at James Madison Virginia at Virginia Tech (The Commonwealth Clash)
George Bagwell (63-54) Vanderbilt Ohio State Alabama Notre Dame LSU Texas  James Madison Virginia Tech 
Peyton Butt (63-54) Tennessee Ohio State Alabama Notre Dame Oklahoma Texas James Madison Virginia Tech
Elijah Campbell (76-41) Tennessee Ohio State Alabama Notre Dame LSU Texas A&M Marshall Virginia Tech
Chris Clark (66-51) Vanderbilt Ohio State Alabama Southern Cal Oklahoma Texas A&M Marshall Virginia Tech
Terry Ford (83-33) Tennessee Ohio State Alabama Notre Dame LSU Texas A&M James Madison Virginia
Griffin Goodwyn (81-36) Tennessee Ohio State Alabama Notre Dame LSU Texas James Madison Virginia Tech
Tyler Head (66-51) Tennessee Ohio State Alabama Notre Dame LSU Texas A&M James Madison Virginia Tech
Wes Mitchell (78-39) Vanderbilt Ohio State Alabama Notre Dame LSU Texas James Madison Virginia Tech
Jay Philips (75-42) Tennessee Ohio State Alabama Notre Dame LSU Texas James Madison Virginia Tech
Kendall Smith (68-49) Tennessee Ohio State Alabama Notre Dame LSU Texas James Madison Virginia Tech
Mike Uva (76-41) Tennessee Ohio State Alabama Notre Dame LSU Texas James Madison Virginia Tech
Jack Veltri (78-39) Tennessee Ohio State Alabama Notre Dame LSU Texas Marshall Virginia Tech
Chris Wellbaum (63-54) Vanderbilt Ohio State Alabama Notre Dame LSU Texas James Madison Virginia Tech
Kevin Miller (50-22) Tennessee Ohio State Alabama Notre Dame LSU Texas James Madison Virginia Tech



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