The oil surplus is going to continue in 2020; average price may rule at $65 a barrel: IEA

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Global oil markets will remain well supplied this year, with a possible overhang of some 1 million bpd, the head of the International Energy Agency, Fatih Bitol, told Reuters. “Non-OPEC production is very strong. We still expect production coming from, not just United States, but also Norway, Canada, Guyana, among other countries,” Birol said, adding “Therefore, I […]

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Lithium price plunges to 4-year low

Investment in battery manufacturing plants and electric vehicle factories continues to boom around the world, but for now the market for lithium shows no signs of emerging from a four-year slump. Prices for the raw material used in lithium-ion batteries fell again at the end of last year, according to the December price assessment released […]

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India’s Adani, NTPC sought extension of deadlines to curb coal plant emissions

Top Indian coal-fired power generators Adani Power and NTPC Ltd have sought two-to-three-year extensions of deadlines to install emissions-cutting equipment at some plants, according to documents reviewed by Reuters, even as the country battles rampant pollution. The requests mean the two biggest power producers in India are pressuring the government to delay emissions targets for […]

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India’s core sector growth contracts 1.5 per cent in November 2019

Showing no signs of improvement, the output of eight core infrastructure industries contracted for the fourth consecutive month in November by 1.5 per cent, according to official data. Since August, the eight core industries are recording negative growth. The output of coal, crude oil, natural gas, steel, and electricity declined by 2.5 per cent, 6 […]

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Coal allocation by CIL to power sector under e-auction drops 23% in Apr-Nov 2019

State-owned Coal India Limited allocated 16.95 million tonnes (MT) of the dry fuel coal under special forward e-auction to the power sector in the April-November period of this fiscal, down 22.6 per cent over the year-ago period. Coal India (CIL) had allocated 21.91 million tonnes (MT) of coal in the April-November period of 2018-19, according […]

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Commodities outlook appears positive for 2020 but challenges persist

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The year 2019 has been a rollercoaster ride for commodities market, however, we are ending on a promising note. Reuters/CRB commodities index has gained 10 per cent this year, the highest since 2010. Palladium tops the list of gainers and has risen more than 55 percent. Some of the other best performing commodities which have […]

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U.S. sanctions have cost Iran $200 billion

“Iran would have earned $200 billion surplus income…if the country were not involved in an economic war,” President Hassan Rohani made the comments while launching a railway project near Tehran on December 31. The United States imposed new sanctions against Iran after Washington abandoned the 2015 nuclear deal in which Iran agreed to curb its controversial nuclear […]

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