Russia, the world’s largest energy exporter, said the current oil-price slump was expected and it doesn’t plan talks with Saudi Arabia for the time being. The decision to keep the Saudis at arm’s length comes as oil tumbles to a four-year low, continuing its slide after the collapse of OPEC+ …
Read More »World Is Heading for Biggest Ever Oil Surplus
After a dizzying drop in demand and an about-face in Saudi Arabian production policy, global oil markets face the possibility of the biggest crude surplus ever recorded, according to IHS Markit.Should the price war between the kingdom and Russia persist and the world tip into recession due to the coronavirus, …
Read More »Spare Capacity in Oil Market Set to Fall as Producers Ramp Up Supply
Global oil spare production capacity could fall in April as Saudi Arabia and the UAE bring more supply to the market following the collapse of output restriction pact. “Global spare capacity will drop by 2-3 million bpd as most of the players with spare capacity will start ramping up their …
Read More »Coronavirus Impact on China’s Power and Renewables Sector
IHS Markit expects that the economic shock is likely to reduce China'.s 2020 GDP growth to 5.4%.
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