Yemen Risk Overview: Outlook for December 2020–May 2021 (March update) | Risk Update 15 April 2021 - Yemen
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Russia s Novak says OPEC+ countries will gradually restore oil output in May-July - Ifax
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Oil Up On The Week As Demand Recovery Optimism Intensifies
by Ship & Bunker News Team
Friday April 16, 2021 A big jump in
China s gross domestic product wasn t enough to prevent a modest slide in crude prices on Friday; however, overall optimism for demand recovery that gained traction in earlier sessions was enough to propel oil to a healthy weekly gain. Brent on Friday settled down
17 cents at
6 percent on the week; West Texas Intermediate settled down
33 cents at
India s coronavirus infection rate hitting a record while
Germany s chancellor stating a third wave of the virus had the country in its grip.
Rattling sabres at Saudi Arabia was unwise © Provided by The Financial Express With India’s oil import dependency at 85%, we are not in a strong position to throw our weight around.
By Bhamy V Shenoy
It is ironical that even as prime minister Narendra Modi has been strengthening personal relations with crown prince of Saudi Arabia, Mohammed bin Salman (MBS), India s oil minister, Dharmendra Pradhan is sabre-rattling by using India s oil purchase as a weapon .
Either India s oil ministry does not want to learn from the world oil history, or truly believes that India can dictate terms to force the Organization of the Petroleum Exporting Countries (OPEC) to adapt oil production policy to meet its needs of lower oil price by increasing oil production. This is a perfect example of the tail trying to wag the dog.