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NEW YORK: Oil prices fell more than 2% on Wednesday as a market surplus forecast by the International Energy Agency (IEA) and demand worries amid the outbreak of a virus in China outweighed concern over disruptions to Libya's crude output.
BENGALURU: Barclays forecast 2020 oil demand to rise by 1.4 million barrels per day (bpd), up from growth of 900,000 bpd in 2019, and an increase of 50,000 bpd from its earlier forecast, on an expected recovery in global economic activity.
LANGKAWI (Bernama): The concept of Malaysia Incorporated (Malaysia Inc), which integrates the private and public sectors into one common objective, is now more important than ever to achieve the country’s big and ambitious goals, says Tun Dr Mahathir Mohamad.
KUALA LUMPUR: Palm oil industry expert James Fry expects crude palm oil (CPO) prices to remain firm, trading above RM3,000 per tonne this year as production prospects in Indonesia and Malaysia soften.
NEW YORK/SINGAPORE: U.S. energy exports to China, mostly crude oil and natural gas, will climb as the world's two largest economies struck a trade agreement after a more than year-long tariff war, executives and traders said on Wednesday.
STRASBOURG, France (Reuters) - The EU budget chief said the bloc needs to invest dedicated funds to avert a "climate crash" as Brussels detailed how it planned to pay for a trillion euro push to cut net C02 emissions to zero by 2050 and protect member countries dependent on coal.
In just 12 days, Occidental Petroleum Corp pulled off one of the biggest hedges against falling oil prices ever placed by a US energy company. It characterised the transaction as “costless” but a Reuters review of regulatory filings, market data and interviews shows that’s not the whole story.
NEW YORK: A dramatic US drone strike killed Iran’s most important general. Tehran vowed retribution and oil prices jumped almost 5% as traders rushed to cover the risk of a Middle East war. Then the selling started.
HONG KONG: Asian markets mostly rose on Monday (Jan 13) as investor attention turned from the Middle East to the global economic outlook and this week's planned signing of the China-US trade pact.
AMIDST an uneasy calm in the Middle East, currently the scene of unpredictable events, oil price is likely to remain volatile.