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Hormuz shutdown deepens oil crisis; IEA warns of record inventory drop, demand plungeGlobal oil stocks are depleting rapidly. The Iran war is worsening supply disruptions. This situation will continue for months. The market ...- Capex on developing oilfields to drop below $3.5 billion in 2030Capital expenditure on developing oil projects is estimated to drop below $3.5 billion in 2030 from around $4.3 billion in 2024. The estima...
- India's diesel demand to rise rapidly in 6 years: IEADomestic diesel demand is projected to rise from 1.8 million barrels per day (mbd) in 2023 to 2.3 mbd in 2030, an increase of 4.5% annually...
- India to be largest global oil demand growth driver through 2030 -IEAThe world's third-largest oil importer and consumer is on track to post an oil demand increase of almost 1.2 million barrels per day (bpd),...
- Oil markets less tight than expected as supply climbsThe IEA boosted forecasts for world fuel consumption this year on surprising strength in China, and still anticipates a supply shortfall du...
- The world is struggling to make enough dieselWhile oil futures are rocketing — on Friday they were just below $95 a barrel in London — the rally pales in comparison with the surge in d...
- Oil surges to $95 as Ukraine tensions stoke supply concernsThe global benchmark rose 1.3% this week, touching $95 a barrel Friday before paring gains. National Security Advisor Jake Sullivan said Fr...
- Plan made to refloat ship blocking Suez Canal using tideAn initial investigation showed the vessel ran aground due to strong winds and ruled out mechanical or engine failure, the company said.
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