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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
OIL
India said it will speed up its diversification of oil imports to protect against any surprise output cuts by OPEC.
- The OPEC cuts "will hurt large importers like India, who spent around $120bn last year on the import of petroleum products," India's oil minister Hardeep Singh Puri said on Friday
- India is the world third largest importer of oil and buys 85% of their requirements from overseas.
- "Some diversification has already happened, and we will further diversify...there are many sources, and we will not hesitate to take actions," Puri said
- India has signed new oil supply deals with Colombia and Brazil and looking for stakes in oil producing assets overseas according to Puri.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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