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IDBI Capital: Crude Oil Largely Status-Quo

IDBI Capital: Crude Oil Largely Status-Quo

Crude oil leaks from an oil pumping jack in an oil field Russia. (Photographer: Andrey Rudakov/Bloomberg)
Crude oil leaks from an oil pumping jack in an oil field Russia. (Photographer: Andrey Rudakov/Bloomberg)

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

IDBI Capital Report

Crude oil prices continued to fall in the month of October as Europe expands coronavirus lockdowns mainly in France and Germany. The U.S. also faces a surge of cases.

While crude oil demand has picked up from Asian countries and inventory levels are depleting worlwide, risk of higher supplies from couple of OPEC nations and rising rig counts globally raises concern of over-supply.

Brent crude oil price fell 1.5% month-on-month to average $40.5/barrel of oil in October 2020.

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IDBI Capital Energy Sector Update.pdf

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