Brent crude seen at $45/barrel next year; China, Asian oil cos to benefit – Fitch

Fitch Ratings expects Brent crude oil prices to be around $45/barrel next year which would support  a modest improvement in the credit metrics of most Chinese and south-east Asian national oil companies. The benchmark oil price was recently hovering at $41/barrel, but has since then rebounded to close to $45/barrel amid hopes of higher demand because […]

Read more

Weekly wrap – India’s haemorrhaging economy begins to heal

The global economy is recovering from the depths of the coronavirus crisis, but there are signs of slowing momentum in countries with a resurgence in infection rates, the International Monetary Fund said in a new report for G20 major economies. The report, released ahead of this week’s virtual meetings of finance officials and leaders from […]

Read more

India announces 12-point boost for economy to add to festival cheer

rupixen-com-6wQk58rM5yo-unsplash-scaled.jpg

Indian Finance Minister Nirmala Sitharaman on Thursday announced financial outlays for 12 sectors, including a fertiliser subsidy as well as those for housing and infrastructure that will likely drive demand for key commodities. She said the announcement was the third instalment of Atma Nirbhar Bharat (Self Reliant India) programme that was meant to establish the country […]

Read more

Why a Biden administration may be great for environment and bad for oil and gas?

The US presidential election victory of Democrat Joe Biden will likely ring in many far-flung changes across the complex of oil, petrochemicals and environment sustainability practices, according to S&P Global Platts. Not only will the US re-engage to join the Paris Climate accord, but also more comprehensive proposals are likely to follow with a target […]

Read more

India’s Transport Minister urges vehicle makers to give fillip to electric battery manufacture

India’s Transport Minister Nitin Gadkari urged the domestic automobile industry to take the initiative in making electric car batteries in the country in order to give a fillip to electric vehicle manufacturing and usage in the country. The South Asian nation is the world’s fourth-largest automobile market and second-largest for two-wheeler vehicles, but despite government incentive programs lags […]

Read more

Comment – Biden’s slim advantage in U.S. poll spooks oil markets

oil-barrles.jpg

With a closely-fought election edging slightly towards Democrat nominee Joe Bien, crude oil prices are edging downwards in anticipation of more fuel supplies reaching global markers. On Thursday, Brent crude fell 0.4% to $41.06 a barrel and West Texas Intermediate down 0.7% to $38.87 a barrel. A Biden administration is seen as less bullish for […]

Read more