Saudi Arabia has big plans for India's energy sector

Mae Love
October 17, 2018

"These supply disruptions need a shock absorber and the shock absorber to a large extent has been Saudi Arabia", he said.

"The oil price pain being now felt would have been much worse if we had believed people who 4-5 years ago said that oil demand had peaked and would decline", Mr. Al-Falih added.

Brent crude was down 50 cents a barrel at $80.28 by 1320 GMT.

Zanganeh also said the United States "has done most of the things it could do, and there is not much left to do against Iran", according to comments reported by Iran's ISNA agency.

Prices extended gains in post-settlement trade after data from the American Petroleum Institute (API) showed a surprise decline in USA crude inventories. "Rising U.S. oil production is one key reason why the globaloil market is likely to be amply supplied next year".

India's oil demand is expected to rise by 5.8 million barrels per day (bpd) by 2040, accounting for about 40% of the overall increase in global demand during the period, OPEC's secretary general said on during the weekend.

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The law regarding depreciation assumes that real estate values decline annually, although often property values actually increase. The Times report said that nothing in the documents reviewed "suggests Mr Kushner or his company broke the law".

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On October 8, Quayle was driving in her auto when she apparently drifted out of her lane and collided with other vehicles. She pleaded with anyone who might have information on the killing to contact the police immediately. "It's ridiculous.

Trump has urged the Organization of the Petroleum Exporting Countries to raise output to help cover a shortfall due to new USA sanctions on Iran.

Meanwhile, South Korea's imports of U.S. crude increased five-fold to 668,704 tonnes in September from 131,125 tonnes past year, the data showed.

South Korea did not import any oil from Iran in September for the first time in six years, before USA sanctions against the Middle East country take effect in November, customs data showed on Monday.

U.S. oil supplies are over-burdened according to reporting, but American crude will do little to help Eastern energy needs. US President Donald Trump had in May withdrawn from the 2015 nuclear accord with Iran, re-imposing economic sanctions against the nation.

In the first two weeks of October, Iran exported close to 1.5 million bpd of crude to countries including India, China and Turkey, some industry sources suggest.

Tensions have flared between the US and Saudi Arabia over the disappearance of Jamal Khashoggi, a journalist with the Washington Post who was critical of the Middle East nation. Iran is its third-largest supplier after Iraq and Saudi Arabia and meets about 10 per cent of total needs.

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