By Aaron Sheldrick TOKYO (Reuters) -Oil prices fell 1% on Thursday as India s coronavirus crisis deepened, halting a rally that had lifted crude to an eight-week high after the IEA and OPEC forecast a rebound in global demand. Brent crude was down 74 cents, or 1.1%, at $68.58 a barrel by 0655 GMT, after rising 1% on Wednesday. West Texas Intermediate (WTI) was down 75 cents, or 1.1%, to $65.33 a barrel, having risen 1.2% in the previous session. The path for crude prices appears to be higher but until the situation improves in India, WTI will probably struggle to break above the early March high, Edward Moya, senior market analyst at OANDA, said in a note.
Ministro El Aissami ratifica importancia de Declaración de Cooperación en recuperación del mercado petrolero mundial
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By Alex Lawler, Ahmad Ghaddar and Rania El Gamal LONDON/DUBAI (Reuters) - The United States said in call with Saudi Arabia that energy should be kept affordable for consumers, as the administration of President Joe Biden resumed the practice of his predecessor Donald Trump who contacted OPEC s leader before key meetings. U.S. Energy Secretary Jennifer Granholm said on Twitter she had a call with Saudi Energy Minister Abdulaziz Bin Salman. We reaffirmed the importance of international cooperation to ensure affordable and reliable sources of energy for consumers, Granholm said. The Organization of the Petroleum Exporting Countries (OPEC) and allied producers, a group known as OPEC+, have been cutting output by almost 7 million barrels per day (bpd) to support prices and reduce oversupply. In addition, Saudi Arabia has made an extra 1 million bpd voluntary cut.
Retail prices of heavily taxed petrol and diesel in the country have touched record highs
India has urged OPEC and allied oil producers to ease production cuts as higher crude prices are hitting fuel demand in Asia s third-largest economy and adding to inflation, its oil minister, Dharmendra Pradhan, said on Wednesday. The price-sensitive Indian consumers are affected by rising petroleum product prices, Pradhan said ahead of a March 4 policy-setting meeting of the Organization of the Petroleum Exporting Countries and allies, known as OPEC+. Oil has been supported in the past few weeks by OPEC+ supply curbs and hopes of a demand rebound due to COVID-19 vaccinations. Benchmark Brent crude rose to $64.72 a barrel at 1237 GMT.
to work. we have to stop other countries from destroying us, whether it s china, opec nations, or any other virtually any other country we deal with. you look at the country of colombia. relatively small trading partner. they use the word partner. that s not a partner. but $4 billion deficit with colombia. that s a small one. china s going to be probably close to $400 billion in deficits. we can t do it. we can t afford it. then we go, how do we pay for the deficits? we borrow money from china. mitt romney gets it. he s a great businessman. he ll change things. he s also got heart. he s a wonderful person. his wife is a fantastic person. i think it s going to be an amazing combination. you re talking about a shifting of the strategy, the romney campaign. you mentioned he needs to tell it like it is. is he being too soft? does he need to have more donald trump approach to things? he s a good person, a tough
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