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oil demand

Oil rebalancing
BR Research

Oil rebalancing

After stabilizing, oil seems to be entering a stronger phase or maybe its learning to live with the pandemic; not...
Published 01 Jun, 2021 07:35am
Iran's oil exports, on rising trend, drop in May as China buying ebbs
Markets

Iran's oil exports, on rising trend, drop in May as China buying ebbs

  • Tehran's oil exports have risen since late 2020, despite US sanctions toughened under US President Donald Trump. Joe Biden's administration took office in January pledging to rejoin Iran's nuclear deal with world powers, which Trump had quit.
  • "China and Iran are carrying out normal economic and trade cooperation, including energy, within the framework of international law, and the relevant cooperation is reasonable and legitimate," the spokesperson said.
Published 19 May, 2021 05:45pm
Brazil's Petrobras lowers fuel prices even as oil rises internationally
Business & Finance

Brazil's Petrobras lowers fuel prices even as oil rises internationally

  • The move would be the first under the management of General Joaquim Silva e Luna, who replaced Roberto Castello Branco as the company's top executive after the government apparently disagreed with the state-run company's fuel pricing policy.
  • In a note on Friday, brokerage Ativa Investimentos said its model indicated a potential 13% rise in gasoline prices, driven by the increasing international oil prices.
Published 30 Apr, 2021 08:32pm
OPEC raises 2021 oil demand growth forecast on hopes virus impact wanes
Markets

OPEC raises 2021 oil demand growth forecast on hopes virus impact wanes

  • Demand will rise by 5.95 million barrels per day (bpd) in 2021, or 6.6%, the Organization of the Petroleum Exporting Countries forecast in its monthly report, up 70,000 bpd from last month.
  • OPEC raised its forecast of 2021 world economic growth to 5.4% from 5.1%, assuming the impact of the pandemic is "largely contained" by the beginning of the second half of the year.
Published 13 Apr, 2021 05:34pm
BP expects to hit $35 billion net debt target in first quarter
Business & Finance

BP expects to hit $35 billion net debt target in first quarter

  • The company, which had a debt pile of $39 billion at the end of 2020, had earlier expected to reduce its debt to $35 billion around the fourth quarter of 2021 or first quarter of 2022.
  • The London-based company said on Tuesday it expects sale proceeds in 2021 to be at the top end of its existing $4 billion to $6 billion range.
Published 06 Apr, 2021 12:11pm
Oil rises as OPEC+ decides on production policy
Markets

Oil rises as OPEC+ decides on production policy

  • OPEC+ reaches preliminary deal to raise output from May –sources.
  • OPEC+ still has deep production cuts in place.
  • New pandemic waves creates uncertain demand outlook.
  • Euro zone factory activity soared in March.
Published 01 Apr, 2021 09:04pm