Oil prices fell on Monday on concerns about oversupply as OPEC and its allies, together known as OPEC+, are due to pull back from production cuts in August while an increase in COVID-19 cases worldwide raised fears of slower pick-up in fuel demand.Brent crude futures slid 8 cents, or 0.2 per cent, to $43.44 a […]
This significant number of bankruptcies is evidence of a quickening trend seen in the industry over the past two years. In 2018, 28 producers filed for bankruptcy, and according to Haynes and Boone “[f]ollowing a steep drop in oil prices in the fourth quarter of 2018, the number of filings started trending up in 2019” […]
The Australian state of Victoria declared a state of disaster and authorities in the Philippines said they would impose fresh restrictions in Manila this week, reflecting worries around the world about getting the pandemic under control. (Reporting by Yuka Obayashi; Editing by Dan Grebler)
“Investors are worried about oversupply as OPEC+ is due to start reducing production cuts this month and a recovery in oil prices from record lows is likely to encourage U.S. shale producers to ramp up output,” said Hiroyuki Kikukawa, general manager of research at Nissan Securities.
Amid slow recovery of fuel demand due to the resurgence of the virus, investors are also worried about oversupply, as the Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, will ease oil supply curbs from August.
diesel price in the national capital on Friday, the oil marketing companies have gone on a pause mode keeping auto fuel prices unchanged on Monday, the third successive day when auto fuel prices have not been revised.Accordingly, diesel continues to be priced at Rs 73.56 a litre in Delhi while petrol price remains static at […]
Researchers at Indian Institute of Technology- Madras have developed a simple microwave process to produce bio-fuel oils with high energy values from two waste products — agricultural waste such as rice straw and bagasse and discarded plastics. The urgency in search of renewable fuels is driven by the environmental impact of extracting fossil fuel and […]
While unemployment has risen to late 1990s levels, deflation is good news for those who still have a job, with lower prices beneficial for consumers even if they have missed out on decent pay rises for several years.
The Royal Enfield Himalayan is currently the best choice for a premium-yet-affordable adventure-tourer motorcycle in the Indian market. The Himalayan is also an extremely capable motorcycle and offers even the first-timer off-roaders like me the chance to have fun and experience dirt-riding.
Demand for diesel in July fell 12.5% over the previous month while that for petrol was 1% lower, halting a swift recovery seen in the previous two months as lockdowns in states and high fuel prices dampened sales, industry executives said.Compared with a year ago, diesel was down 21% in July, while petrol fell 11%. […]