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Asian markets mixed as oil prices surge

Monday, September 16, 2019, 8:24 PM

Asian stock markets were mixed on Monday after crude prices surged following an attack on Saudi Arabia's biggest oil processing facility. Hong Kong's benchmark tumbled 1.1% while Seoul advanced and Shanghai and Sydney were little-changed. Japanese markets were closed for a holiday. The S&P 500 index slipped 0.1% to 3,007.39. The Dow Jones Industrial Average rose 0.1% to 27,219.52.
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Goldman Sachs cuts 2019 oil demand growth forecast to 1 million bpd

Wednesday, September 11, 2019, 7:59 AM

Goldman Sachs has lowered its forecast on 2019 oil demand growth, citing reduced demand from India, Japan, other non-OECD Asian regions, the Middle East and Latin America. The Wall Street bank revised its forecast down to 1 million barrels per day (bpd), from 1.1 million bpd but left its 2020 demand growth estimate broadly unchanged at 1.4 million bpd.
 
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Indian Oil goes up value chain, signs fuel supply deal with US

Tuesday, February 19, 2019, 7:48 PM

To ensure a steady inflow of crude oil at a time imports from Iran are falling, state-run Indian Oil Corp (IOC) has become the first domestic company to sign a long-term supply contract with the US. The oil marketing company, in a statement released on Monday, said the annual deal is worth $1.5 billion and will be effective for FY20.