INDIA’s 2021 BITUMEN CONSUMPTION RISES
Bitumen demand in January-November totalled 7.14mn t, up from 6.98mn t in 2020 and 6.8mn t in 2019. Consumption rose despite recent Covid lockdowns and delays from monsoons in infrastructure and road construction. India had announced a strong push for infrastructure development …
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CLOSING PRICES FOR CRUDE OIL, GOLD & OTHER COMMODITIES
Benchmark US crude oil for February delivery rose $1.61 to $79.46 a barrel Thursday. Brent crude for March delivery rose $1.19 to $81.99 a barrel. Wholesale gasoline for February delivery rose 1 cent to $2.30 a gallon. February heating oil …
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GOVT MAY EXEMPT PVC PIPES FROM THE MANDATORY BIS QUALITY NORMS, A NOTIFICATION SOON
In a major relief for thousands of unorganized sector polyvinyl chloride (PVC) pipe manufacturers in India, the Ministry of Environment, Forest & Climate Change (MoEF&CC) is considering exempting the mandatory requirement of the Bureau of Indian Standards (BIS) quality norms …
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OPEC+ agrees oil output hike from February as omicron Covid cases soar
OPEC and its non-OPEC allies, known collectively as OPEC+, decided to raise its output target by 400,000 barrels per day from next month. The move had been broadly expected given U.S. pressure to boost supply and no major new Covid …
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Oil prices steady ahead of OPEC+ output policy meeting
Oil prices were flat on Tuesday ahead of a meeting where major producers are expected to stick to plans to add supply in February, as soaring COVID-19 cases have yet to spark lockdowns in the biggest fuel-consuming countries. Brent crude futures …
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Oil up, but Covid-19 fuelled fuel demand worries cap gains
Oil was up on Monday morning in Asia, as Libyan tightened supplies ahead of an Organization of the Petroleum Exporting Countries and allies (OPEC+) meeting. Concerns about falling fuel demand as COVID-19 continues to spread also capped gains for the …
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