Futures in New York tumbled 1.7 percent Thursday. While Goldman Sachs Group Inc. forecasted strong global consumption growth, crude production and stockpiles in the U.S. climbed higher in the latest inventory report. A strengthening dollar also pushed crude lower. The Organization of Petroleum Exporting Countries and its partners including Russia continue to trim output as promised. OPEC shipments will fall by 230,000 barrels a day in the four weeks to March 24, according to tanker-tracker Oil Movements. Saudi Minister of Energy and Industry Khalid Al-Falih said in a Bloomberg Television interview that the deal will evolve in 2019 and the group will do what it needs to in order to preserve oil market stability. Click Read More below for additional information.

Futures in New York fell as much as 1.1 percent, after losing 3.6 percent in the previous two sessions. U.S. crude stockpiles last week rose to the highest level since December, while gasoline reserves expanded at four times the predicted rate. Meanwhile, data for November showed the shale boom drove U.S. output to a record. U.S. stockpiles of oil stored in tanks and terminals rose by 3.02 million barrels to about 423 million, the fourth increase in five weeks, according to the Energy Information Administration. That compares with a median estimate for a 3 million-barrel gain in a Bloomberg survey. Gasoline inventories expanded by 2.48 million barrels, more than the 600,000-barrel average estimate. Click Read More below for additional information.

Marketers’ disgust with online ad fraud has created an opening for our industry, but we’re not ready to take advantage of it. Our out-of-date, out-of-synch approaches to magazine advertising proposals are holding us back from taking advantage of this new opportunity. Judging from my interactions with advertising sales reps, they’re seeing fewer digital-only RFPs these days and more media-agnostic ones. Marketers who were in the “print is dead” camp now seem intrigued with the ability of print to engage their most valuable prospects. But simply buying ad pages in general-interest magazines is not their idea of effective targeting.