Hedge funds were small buyers of petroleum last week as managers repurchased some short positions after heavy selling and price falls the previous week.
Oil prices edged higher on Wednesday on the prospects for stronger global economic growth amid increased COVID-19 vaccinations and a report that crude inventories in the United States, the world’s biggest fuel consumer, fell.
Indian state refiners will buy 36% less oil from Saudi Arabia in May than normal, three sources said.
Strong economic data from China and the United States helped lift oil prices by more than 1% on Tuesday, recouping some of the previous session’s losses.
Zhanjiang, a coastal city in South China’s Guangdong province, will make the local port economy into a core driver for its future high-quality development.
Iran said talks in Vienna on Tuesday aimed at restoring its 2015 nuclear deal with world powers had been “constructive,” but stuck to its demand that the U.S. first remove all sanctions for real progress to be possible.
Crude oil shipments via the Caspian Pipeline Consortium (CPC) pipeline may increase by 6.8% in 2021 compared with 2020 to 63 mln tonnes.
Iran and world powers began their most serious attempt yet to resurrect a troubled nuclear deal.
State-run refiners in India are looking to buy less crude from Saudi Arabia as demand in the Asian nation is poised to dip amid a resurgence of Covid-19, and relations between the two countries sour over prices.