Asian OPEC Customer Shipments Might Prolong Low Oil Prices
The Organization of Petroleum Exporting Countries‘ efforts to hold market share in Asia by keeping its customers, which take about two-thirds of its exports, supplied amid wider output cuts could prolong the global fuel glut and frustrate its attempt to bolster prices.
Two-Month Trial: Metal Buying Outlook
Saudi Arabia, the defacto leader of OPEC will target its supply cuts at refiners in the U.S.and Europe rather than Asia. Ally Kuwait is following a similar strategy, and OPEC’s second-largest producer Iraq is even raising exports to Asia.
Vedanta Ordered to pay $100 Million Over Copper Mine
Konkola Copper Mines, owned by Vedanta Resources, has been ordered by a London court to pay the Zambian government more than $100 million for a claim related to the copper price, a state-owned company involved in the dispute said. The claim relates to outstanding payments under a 2013 copper price participation settlement agreement between KCM and ZambiaConsolidated Copper Mines Investments Holdings (ZCCM-IH).
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