That’s according to Chris Wood, chief equity strategist at CLSA. “While a further spike in oil prices to the $120-150 level would ultimately contain the seeds of its own destruction by destroying demand, it would do a lot of damage in the short to medium-term,” he said in his weekly investor note ‘Greed & Fear’.
India’s energy sector is affected by swings in crude oil prices, since the country is a major net importer of crude and gas. The domestic energy sector is also subject to major government interference of a type that causes poor financial performance. Primary producers like ONGC and OIL are not allowed to maximise profits when prices are hi
The US embargo on Iran oil shipments has put Prime Minister Narendra Modi in a quandary. If he plays along, India could find itself on the right side of President Donald Trump on trade but lose cheap supplies and precious foreign exchange.
This element could take oil to $400 or more in 2020 that would almost certainly trigger a global recession
Wrong on all three counts. Sulfur — the yellow, infernal substance that gives rotten eggs their smell and hardens the rubber in car tires — is quietly roiling the energy industry.
Crude oil futures fell by Rs 36 to Rs 4,633 per barrel today as speculators cut down bets amid weak cues from the Asian markets.
Two of Venezuela’s four crude upgraders are scheduled to undergo previously delayed maintenance in the next few weeks, according to three sources close to the facilities, further reducing state-run PDVSA’s exports of upgraded crude.
The U.S. embargo on Iran oil shipments has put Prime Minister Narendra Modi in a quandary. If he plays along, India could find itself on the right side of President Donald Trump on trade but lose cheap supplies and precious foreign exchange.
India’s import bill of crude oil and petroleum products swelled 57 per cent to $12.73 billion in June as compared to the same month last year.
Crude oil prices have started on a weak note. The supply concerns are eased and there are potential supply increase that the markets are readying themselves with, especially from Russia and Saudi Arabia, and that is pulling the prices lower
Oil prices slumped more than 4 percent on Monday, with Brent reaching a three-month low, as Libyan ports reopened and traders eyed potential supply increases by Russia and other producers.