Oil prices likely to continue its bull run for years to come: Analysts

Rebounding global oil consumption amid tight supply—contrary to some forecasts last year that indicate demand may have peaked or was close to its peak—as well as years of underinvestment in new supply following the 2015 crash, have prompted Wall Street banks to raise significantly their projections for oil prices in the short and medium term.   […]

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New energy economy emerging, but not quickly enough to reach net zero by 2050, says IEA

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A new energy economy is emerging around the world as solar, wind, electric vehicles and other low-carbon technologies flourish, but this clean energy progress is still far too slow to put global emissions into sustained decline towards net zero, the International Energy Agency (IEA) said in its new World Energy Outlook. “The world’s hugely encouraging clean […]

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India’s oil products demand to grow by an average of around 250,000 barrels per day every year over the next decade: S&P Global Platts

S&P Global Platts Analytics expects India’s oil products demand to grow by an average of around 250,000 barrels per day (bpd) every year over the next decade, supported by population growth and a steady rise in disposable personal incomes. The International Energy Agency recently said that India could witness the biggest increase in energy demand […]

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Petroleum minister, Puri seeks foreign, private investments in oil and gas production

Petroleum Minister Hardeep Singh Puri promised an open-door policy to resolve any issue faced by the industry as he sought foreign and private investments to boost domestic oil and gas production. At an investor meet called to promote India’s latest offering of discovered fields for bidding, Puri said India, besides offering the world’s fastest-growing energy […]

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Mystery surrounding Chinese stockpiles of commodities deepens

Every week since April this year, Chinese authorities have announced measures to control the price of many commodities, including energy and metals.  China has been trying to cool surging commodity prices by releasing inventory from its strategic reserves. The higher prices of oil, coal and metals have raised manufacturing costs, slowed down factory activity growth, and increased inflation […]

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