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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IEA warns of a looming oil glut

If global oil demand growth continues to languish with uncertainties around the global economy and Brexit, the oil market will likely have to cope with another oversupply next year, according to the International Energy Agency (IEA).  “Unless other things change, we will see a surplus probably, unless there is very strong demand growth recovery,” Keisuke […]

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Oil demand crawling at slowest pace since 2008 financial crisis: IEA

Mounting signs of an economic slowdown and a ratcheting up of the U.S.-China trade war have caused global oil demand to grow at its slowest pace since the financial crisis of 2008, the International Energy Agency (IEA) said. “The situation is becoming even more uncertain … global oil demand growth has been very sluggish in the first half of 2019,” the IEA […]

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