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Oil Buckles Under India Covid Pressure

Oil Buckles Under India Covid Pressure
rigzone.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from rigzone.com Daily Mail and Mail on Sunday newspapers.

Oil pares loss with OPEC+ panel raising demand growth outlook

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Oil Prices Falter Under Virus Surge Cloud

Oil slipped with the rapid coronavirus resurgence in India and other countries casting a cloud around a return to normal consumption. (Bloomberg) Oil slipped with the rapid resurgence of Covid-19 in India and other countries casting a cloud around a return to normal consumption, even as OPEC+ projected a strong global demand recovery this year. Futures in New York closed 0.4% lower on Monday. While an OPEC+ technical committee raised its global oil demand growth forecast for 2021 to 6 million barrels a day and said most of the fuel inventory glut accumulated during the pandemic will have depleted by the end of this quarter, the group cautioned that virus cases in India, Brazil and Japan may have a negative impact on economic growth.

Gas pipeline to benefit Dakshina Kannada, Udupi: CM Yediyurappa

Gas pipeline to benefit Dakshina Kannada, Udupi: CM Yediyurappa   Wed, Jan 06 2021 08:25:18 AM Bengaluru, Jan 6 (IANS): The 444-km Kochi-Mangaluru natural gas pipeline, which Prime Minister Narendra Modi commissioned on Tuesday, would benefit industrial, commercial entities and households in Karnataka s coastal districts of Dakshina Kannada and Udupi, Chief Minister B.S. Yediyurappa said. The pipeline will benefit hundreds of households, commercial establishments and industries in Dakshina Kannada and Udupi districts, as natural gas is economic, eco-friendly and a clean fuel for use, said Yediyurappa in a statement. The Chief Minister participated in the virtual event earlier in the day through video-conferencing from his home-office.

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