India has diverted a cargo of crude from the UAE to the southwest port of Mangalore to help fill its strategic petroleum reserve (SPR), amid slumping demand from the country's refiners because of the Covid-19 outbreak.
News ID: 9143 Publish Date : 2020/04/14
State-owned PetroVietnam warned domestic refineries are at risk of shutting down amid swelling inventories, the collapse in oil prices and an unprecedented drop in transportation fuel demand amid measures to curb the Covid-19 outbreak.
News ID: 9139 Publish Date : 2020/04/14
Vietnam's state-owned downstream firm Petrolimex does not plan to import any jet fuel in April or May because of a slump in domestic demand.
News ID: 9138 Publish Date : 2020/04/14
India's bitumen demand is expected to continue to suffer as the country announced an extension of its Covid-19 lockdown until 3 May.
News ID: 9136 Publish Date : 2020/04/14
The global economy will shrink by 3pc this year, and few major economies will make up for the lost growth in 2021 as a result of collapsing economic activity in the wake of the Covid-19 pandemic, the IMF said today.
News ID: 9133 Publish Date : 2020/04/14
Republican US senators from oil states who recently introduced legislation to remove American troops from Saudi Arabia said on Saturday they had spoken with three officials from the kingdom and urged them to take concrete action to cut crude output.
News ID: 9128 Publish Date : 2020/04/12
Crude futures rose in early Asian trading after Opec and non-Opec producers finalised a landmark two-year production restraint agreement that will take 9.7mn b/d off the market in May and June.
News ID: 9123 Publish Date : 2020/04/13
At least five Indian states have decided to extend Covid-19 lockdowns until the end of this month, further cutting the country's fuel demand.
News ID: 9122 Publish Date : 2020/04/13
Indian state-controlled refiners may have to shut some of their plants as extensions of Covid-19 lockdowns slash fuel demand.
News ID: 9120 Publish Date : 2020/04/13
The Opec+ agreement to cut crude output is insufficient to balance the market amid continuing declines in demand from the Covid-19 pandemic, Asia-Pacific crude buyers said today.
News ID: 9117 Publish Date : 2020/04/13
Non-Opec producer Oman has already instructed all operators and oil producers in the sultanate to cut crude oil output for two months beginning 1 May, in line with its commitments under yesterday's Opec+ production restraint agreement.
News ID: 9115 Publish Date : 2020/04/13
The president of Mexico -- the lone holdout in an OPEC deal to cut crude production and shore up prices -- said Friday that he has reached a deal with the US president to reduce oil output.
News ID: 9110 Publish Date : 2020/04/11
A historic production cut agreement between OPEC and its allies, known as OPEC+, hit a roadblock after Mexico refused to agree to its share of the cuts after a marathon meeting between the oil-producing nations that lasted more than nine hours.
News ID: 9104 Publish Date : 2020/04/10
The Opec+ group will be under intense pressure to reach a production cut agreement at an emergency online meeting today. But expectations are low, with many aspects of the discussions still not agreed.
News ID: 9090 Publish Date : 2020/04/09
Iranian Oil Minister Bijan Namdar Zanganeh said he has held consultations with several foreign officials about plans to restore stability to the global oil market ahead of a meeting between OPEC and its allies.
News ID: 9086 Publish Date : 2020/04/08
China is poised to cut oil product exports in April as lockdowns across the world to limit the coronavirus pandemic sapped global demand, according to refiners, traders and analysts.
News ID: 9083 Publish Date : 2020/04/08
Saudi Arabia, Russia and other large oil producers are racing to negotiate a deal to stem the historic price crash as diplomats said some progress was made on Sunday.
News ID: 9082 Publish Date : 2020/04/07
South Korea is deferring taxes on crude imports for the next three months to help refiners and other buyers weather a slump in fuel demand caused by the Covid-19 pandemic.
News ID: 9077 Publish Date : 2020/04/08
The South Korean jet fuel differential has fallen to the lowest levels since at least 2008 amid weak domestic demand caused by the impact of Covid-19 and higher exports.
News ID: 9075 Publish Date : 2020/04/08
China is planning to expand and consolidate refinery capacity in the northeastern city of Daqing, in a move that could boost imports of Russian crude and help drive GDP growth in the industrial region.
News ID: 9074 Publish Date : 2020/04/08
