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Kazakhstan to Transport more Russian Oil and Gas

Kazakhstan will transport more Russian oil and gas, the country’s president, Kassym-Jomart Tokayev, told Russian daily newspaper Izvestia on Wednesday, a day before Russian President Vladimir Putin’s visit to the Central Asian nation. The Kazakh leader appeared to be warming to the idea of a “gas union” with Russia, which …

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Oil Prices Drop amid Warning Demand in US, China

Oil prices backed off on Monday, reversing their Friday rally, as renewed concerns over waning demand in the United States and China dented market sentiment. Brent crude futures for January were down 71 cents, or 0.87%, at $80.72 a barrel at 0400 GMT, while the U.S. West Texas Intermediate (WTI) …

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U.S. Infrastructure Projects Boost Steel Demand

The Construction MMI (Monthly Metals Index) continued to lack strong bullish or bearish pressure month-over-month. Overall, the index only dropped by a minuscule 0.13%. Still, many factors remain at play in the construction industry, which seems to be behind the index components’ steady sideways trends. With the winter months coming, …

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Iran Oil Production Rises in October

Iran, which has gained an exemption from OPEC cuts deal due to U.S. sanctions, increased production to 3.05 million barrels per day (bpd) in October, as pipeline issues that affected production and exports in September were resolved, according to a survey conducted by S&P Global Commodity Insights Platts. Production is …

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