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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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OPEC kingpin Saudi Arabia replaces energy minister with king's son

Sunday, September 8, 2019, 8:11 PM

Saudi Arabia's King Salman named his son as energy minister after veteran-official Khalid al-Falih was sacked, state-media said Sunday, in a major shakeup as the OPEC kingpin reels from low oil prices. The appointment of Prince Abdulaziz bin Salman, half brother to de facto ruler Crown-Prince Mohammed bin Salman, comes as Saudi Arabia prepares for a much-anticipated stock listing of state-owned oil giant Aramco.
 
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Rupee snaps 6-day rally, settles 10 paise down at 70.80

Wednesday, February 13, 2019, 8:38 PM

Snapping its six-day winning run, rupee Wednesday settled 10 paise lower at 70.80 against US dollar amid rising crude-prices and heavy foreign fund outflows. Forex traders said dollar buying by oil-importers and strengthening of greenback against major-currencies overseas weighed on domestic-unit. At the Interbank Foreign Exchange market, rupee opened on strong footing at 70.48 and rose further to touch the day's high of 70.40.

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