India’s middle eastern crude oil imports slump to 4-year low; government seeks other sources

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India’s imports of Middle Eastern oil plunged to a four-year low in 2019, tanker data obtained from sources shows, as the energy-hungry nation diversifies its supplies to cut costs and help shield itself from geopolitical tensions, reports Reuters. India, the world’s third-biggest oil consumer, imports about 84 per cent of its oil needs and traditionally […]

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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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China thermal coal prices under pressure, India to gain ground in 2020: S&P Platts

Chinese thermal coal prices are likely to come under pressure in 2020 from rising domestic output, while India makes further gains in its quest to surpass China as the world’s largest thermal coal importer. India’s increased demand for imports, which is due largely to domestic production and transportation challenges, will likely come at a time […]

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