That was the message from the International Energy Agency (IEA) in its latest Oil Market Report. The world has plenty of oil, but perhaps not the right type of oil.
Read MoreGlobal Markets: Emerging ‘Quality’ Problem To Haunt Oil Markets
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Global Markets: OPEC Chief Urges Producers to Meet Cut Pledges
(Bloomberg) — OPEC’s top official urged countries in the group and its allies to follow through on their pledges to cut oil production and keep global markets balanced.
Read MoreAfrica Mining: Angola sells 8.40 million carats of diamonds in 2018
Angola’s national diamond trading company, Sodiam sold 8.4 million carats of diamonds in 2018, which accounted for revenue of US$1.22 billion, a company executive said on Tuesday in Luanda.
Read MoreGlobal Markets: Japan’s spot LNG price down in January
The price of spot liquefied natural gas contracted in Japan was pegged back during January 2019, according to the Japanese Ministry of Economy, Trade and Industry (METI).
Read MoreGlobal Markets: Oil Holds Below $53
Oil held under $53 a barrel as a tentative deal to avoid another growth-killing U.S. government shutdown was offset by the prospect of rising American crude inventories.
Read MoreGlobal Oil & Gas: “Washington Eyes Crackdown On OPEC” – Oilprice
Legislation targeting OPEC is suddenly gaining steam in the U.S. Congress, raising alarm bells for the cartel.
Read MoreGlobal Oil & Gas: Anadarko Petroleum’s quarterly profit jumps 74%
Anadarko Petroleum’s adjusted profit surged 74 per cent in the December quarter, as it sold more oil at higher prices.
Read MoreGlobal Markets: “Diamond prices sliding” – report
A report made public today by Rapaport reveals that polished-diamond prices softened in January, with 1-carat stones falling by 0.4% last month and 1.8% compared to January 2018, while 3-carat gems fell by 1.8% last month and 5.9% compared to last year.
Read MoreGlobal Markets: Chinese LNG Imports Beat Another Record
China’s liquefied natural gas imports broke another record last month amid rising stockpiles that made some importers nervous, Reuters reports, citing industry sources as well as vessel-tracking data..
Read MoreGlobal Markets: Oil drops on rig count and China concerns
Renewed concerns over Chinese growth weighed on crude prices on Monday, with WTI and Brent falling more than three percent. It was the largest single-day decline in a month.
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