Key Points
New Delhi: International crude oil prices traded flat on Friday after a surge in the previous session due to concerns of supply disruption...
Ravindra V Rao, head of commodity research at Kotak Securities Ltd said: Libyas second- biggest oil field is in the process of shutting due to protests, while theres also a production halt in Nigeria, at a time when Russian flows are finally starting to ease.".
Further the prices traded on subdued note on Friday after the International Energy Agency (IEA) said that the global demand this year will not grow as fast as previously projected..
A recent report by S&P Global Commodity Insights said that Russian seaborne crude exports fell 10% on the month in June to their lowest levels since February, as sales to refiners in India and China slipped back from a post-war high..
. Russia-origin seaborne crude shipments averaged 3.46 million b/d in June, the lowest since February but still 12% above average pre-war levels of 3.1 million bpd, the data showed...
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