Tag: OPEC

Daily Market Update MAR 12

Previous Day’s Market Updates Sensex closed at 51,279.51 up by 254.03 points Nifty closed at 15174.80 up by 76.4 points SEBI has moved quickly to form a group of experts to study the feasibility of Special Purpose Acquisition Companies or SPAC-like structures in India. These have suddenly taken off in a big way in the

Weekly Capsule (Mar 01 – Mar 05)

News Announcement Impact Analysis ·        CONCOR to source 8000 containers locally, in the midst of a global shortage ·        Instead of relying on China, CONCOR has given the contract to make containers to BHEL and Braithwaite and Co. ·        Indian exports have been hit in the last few months as China has cornered most of

Weekly Capsule (Feb 15 – Feb 19)

News Announcement Impact Analysis ·         Oil rally in Brent Crude market takes a brief breather at $65/bbl ·         The oil shortage was created by Arctic blasts that had left Texas freezing, putting 4 million bpd of oil at risk ·         With the OPEC unwilling to relent on supply infusion, oil prices have rallied over 80%

Daily Market Update FEB 19

India’s domestic air passenger traffic for Jan-21 was down by 40% at 77.34 lakhs on a YOY basis. The data released by the DGCA clearly showed that the lag effect of the pandemic and the continued levels of social distancing took its toll on the aviation business. The passenger load factor, equivalent to factory capacity

Daily Market Update Jan 6

Brent crude prices crossed the $53/bbl mark on Tuesday after the largest oil producer in the OPEC, Saudi Arabia, agreed to take more cuts in output to keep the OPEC Plus deal going. Both Russia and Kazakhstan, part of the OPEC Plus alliance, wanted to increase oil output by 500,000 bpd. However, fearing that it