International

The budget deficit will widen to 6.4% in 2020 from 4.7% in 2019 as the government earns less from oil.

The big three oil producers in China were expected to spend $77 billion on oil developments this year.

The amount is for the costs incurred in acting as a Supplier of Last Resort.

The pipeline plan is the biggest energy ‘reform’ in China since 1998.

Asia'.s fourth biggest oil consumer imported 112.55 million barrels from the North American producer over January-October.

The key uncertainty facing the oil market now is OPEC+ supply from April.

Russia and China today play a decisive role in the formation of a new energy map of the world.

Turkey has consistently contested the Greek Cypriot administration'.s unilateral drilling in the Eastern Mediterranean.

OPEC+ oil exporters have coordinated output for three years to balance the market and support prices.

OPEC’s own outlook reflected a surplus of around 70.000 barrels per day (bpd) next year.