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IEA Says 'Mission Accomplished' For OPEC As Oil Stocks Shrink
OPEC and its allies appear to have accomplished their mission of bringing global oil stocks to desired levels, the International Energy Agency said on Friday, signalling that the markets could become too tight if supply remains restrained.
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IEA Warns Global Oil Demand May Suffer As Crude Nears $80
Global demand for oil is likely to moderate this year, as the price of crude nears $80 a barrel and many key importing nations no longer offer consumers generous fuel subsidies, the IEA says.
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Former Dragon Aromatics To Restart China Petchem Plant After Halt
China's Fuhaichuang, formerly known as Dragon Aromatics, plans to restart its refining-petrochemical complex in eastern Fujian as early as June after halting operations for three years, four sources with knowledge of the matter said on Thursday.
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