Day: July 15, 2020

Oil Rises With U.S. Stockpiles Set to Drop, OPEC Meeting on Cuts

(Bloomberg) — Oil rose near its highest level since March as U.S. crude inventories looked set for a large drop and OPEC+ sought extra output cuts from laggards.

Futures in New York traded near $41 a barrel, extending Tuesday’s gains. The American Petroleum Institute reported that inventories fell by 8.32 million barrels last week — the biggest drawdown since December if confirmed by official figures on Wednesday. Meanwhile, OPEC+ is seeking compensatory curbs in the next two months from members that overshot quotas, delegates said.

Crude has traded in a tight range around $40 a barrel in July as lower

Drop in China’s share in American imports didn’t help India, despite close diplomatic relation with US, says Rabobank

Manufacturing imports to the U.S. from China dropped by 17% or $88 billion in 2019, they said (Bloomberg photo)

India has not gained much from a drop in China’s share in American imports, despite New Delhi’s close diplomatic relation with Washington and a recent push to boost its own local manufacturing base, a study by Rabobank shows.
The South Asian nation saw only a slight increase of its share in shipments to the U.S. last year, according to the Rabobank report, as a trade war with China pushed American companies to diversify their supply chain away from the world’s second-biggest

RIL 43rd Annual General Meeting Live Updates, Mukesh Ambani Live

The 63-year-old Mukesh Ambani has used the AGM as a platform to announce plans that would shape the company’s future growth.

RIL’s 43rd Annual Meet Live Updates: Mukesh Ambani will address Reliance Industries Limited’s (RIL) Annual General Meeting in less than an hour from now, the company’s 43rd such meet with shareholders since its initial public offering. With businesses ranging from oil to telecommunications to healthcare and financial services, RIL is the biggest private company in India, with a market capitalization of Rs 12.28 lakh crore. In the AGM, Mukesh Ambani is expected to announce how the company will