Oil prices posted their strongest opening to a year since 2014 on Tuesday, with crude rising to mid-2015 highs amid large anti-government rallies in Iran and ongoing supply cuts led by OPEC and Russia. Source: Reuters
Russia is planning to reduce its oil production by 50,000 bpd to 60,000 bpd in January as part of the new OPEC+ deal, and will not be cutting its 228,000-bpd share outright at the start of the agreement, Russia’s Energy Minister Alexander Novak said on Tuesday. Source: Oil Price
India hopes to attract around US$300 billion in investments in its energy sector in the coming decade, including in refineries, natural gas infrastructure and trade, and liquefied natural gas (LNG) facilities, India’s Petroleum Minister Dharmendra Pradhan said at an energy conference in Delhi on Tuesday.
Iraq has increased production at its southern Halfaya oilfield by 100,000 barrels per day (bpd) to a total of 370,000 bpd, an oil official told Reuters on Wednesday. Source: Reuters
