OPEC increases its revenues by 32%: EIA

The U.S. Energy Information Administration (EIA) estimates that members of the Organization of the Petroleum Exporting Countries (OPEC) earned about $711 billion in net oil export revenues in 2018, increased by 32 per cent from the $538 billion earned in 2017, mainly as a result of the increase in average annual crude oil prices during […]

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India’s crude steel production rises 1.7% to 9.2 million tonnes in July 2019: Worldsteel report

India’s crude steel output increased by 1.7 per cent to 9.215 million tonness in July 2019, according to World Steel Association’s report. The country had produced 9.059 million tonnes of crude steel during the same month a year ago, the global steel industry body said in its latest report. Coincidentally, global steel production for the […]

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India’s steel consumption growth waning as downstream demand tanks

India’s steel consumption growth is likely to slow down for its financial year-ending March 31, 2020, as its domestic downstream industries face weaker demand for their end-products. Steel consumption for April-July amounted to 33.706 million tonnes, about 6.6 per cent higher than the 31.607 million tonnes recorded a year ago, data from state-run Joint Plant […]

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Lab-grown diamond jewellery exports from India to capture 2% of US market

Jewellery made from lab-grown diamonds is likely to capture over 2 per cent of India’s $14 billion worth of overall gems and jewellery exports to the US, the world’s largest consumer of the precious stones and metals, contributing nearly half of the world production. Exports to US, the largest market for Indian exporters is estimated at $280 […]

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EIA forecasts US coal production to drop 2.7 per cent on year in 2019

The US Energy Information Administration (EIA) forecast coal production totaling 688 million tonnes in 2019, down 2.7 per cent from the year-ago production, the EIA’s Short-Term Energy Outlook reported. August ’s forecast  for 2019 output was up 0.6 per cent from July’s forecast , and the first  increase in four months. The 2020 projection increased, […]

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