Tag: CORONAVIRUS

OPEC’s share of Indian oil imports plunges to 2 decade low

Total crude imports by the world’s third-biggest oil importer fell to 3.97 million barrels per day (bpd) in the 2021 fiscal year to March 31, down 11.8% from a year earlier, the data showed

India demand worries knock oil prices from six-week highs

Oil prices slipped, taking a breather after touching their highest in six weeks as concerns of wider lockdowns in India and Brazil to curb the COVID-19 pandemic offset a bullish outlook on summer fuel demand and the economic recovery

Shell raises its dividend as profits surge

Royal Dutch Shell’s profits leapt to $3.23 billion in the first three months of the year and the energy company raised its dividend as planned but warned that the outlook remained uncertain due to the coronavirus pandemic

OPEC+ sticks to plan to ease oil output cuts from May 1

The panel decided to stick to policies broadly agreed at a previous April 1 meeting of OPEC+, Russian Deputy Prime Minister Alexander Novak said after the talks

OPEC+ to meet amid concern about rising virus cases

OPEC and its allies led by Russia will meet to discuss production policy amid upbeat forecasts for energy demand despite concerns about new coronavirus spikes in India, Brazil and Japan

Oil falls on India’s COVID surge, supply increase

Oil fell on fears that surging COVID-19 cases in India will dent fuel demand in the world’s third-biggest oil importer, while the end of a force majeure on exports from a Libyan terminal and an expected supply increase from OPEC+ added to pressure

CO2 emissions set to surge, IEA warns

Climate-changing CO2 emissions are set to surge by the second-biggest amount in history this year as the global economy recovers from the Covid-19 pandemic, the IEA warned

Oil rises to $67, heads for weekly gain on demand hopes

Oil rose to $67 a barrel and was heading for a weekly gain as a stronger demand outlook and signs of economic recovery in China and the United States offset rising COVID-19 infections in some other major economies

OPEC raises 2021 oil demand growth forecast on hope pandemic wanes

Demand will rise by 5.95 million barrels per day (bpd) in 2021, or 6.6%, the Organization of the Petroleum Exporting Countries forecast in its monthly report. That is up 70,000 bpd from last month

Saudi Aramco in $12.4 bn oil pipeline deal with EIG-led group

Energy giant Saudi Aramco said it has struck a 12.4-billion-dollar deal to sell a minority stake in a newly formed oil pipeline business to a consortium led by US-based EIG Global Energy Partners