U.S. oil refiners are estimated to have 270,000 barrels per day (bpd) of capacity offline in the week ending July 28, decreasing available refining capacity
Despite there being copious amounts of crude oil on the market and global inventories being well over the 2.7 billion barrel five-year average deemed as a balanced level
The US administration has told India that Westinghouse Electric Co will emerge from bankruptcy and be sold by the year end, industry and diplomatic sources have said, raising the prospect of a Washington-supported sale or bailout for the nuclear firm.
Crude oil futures soared for the sixth consecutive session on Thursday’s trade as US oil production underpinned the market which is being squeezed from a global supply glut.
The world’s biggest coal users China, the United States and India have boosted coal mining in 2017, in an abrupt departure from last year’s record global decline for the heavily polluting fuel and a setback to efforts to rein in climate change emissions.
The US will provide $7.5 million to help advance India’s power gridBSE -2.11 % as part of their commitments to ensure access to affordable and reliable energy in both countries.
The bank finds the pace of declines in U.S. crude inventories encouraging, with an acceleration in draw downs expected through the second quarter as OPEC
Oil prices were stable on Wednesday as OPEC said it was committed to draw down a global supply overhang that has dogged markets since 2014, although bloated US output and inventories still weighed on crude
Opec is finally making some headway in its race against the tide of surging US supplies, and speculators are giving the group greater credence
The green is edging out the black in India, courtesy the many wind turbines and solar panels dotting the country.