#oilmarket

[shuttech]

Saudi Arabia Scraps $100 Oil Target to Focus on Market Share

In a significant shift in its oil strategy, Saudi Arabia has abandoned its ambitious $100 oil target, opting instead to prioritize market share. This decision reflects the kingdom's response to changing global market dynamics and its desire to maintain a competitive edge in the energy sector. By focusing on market share, Saudi Arabia aims to strengthen its position amidst fluctuating oil prices and increasing competition from other oil-producing nations. This move could have far-reaching implications for the global oil market, impacting pricing strategies and production levels as countries adjust to the new landscape. As the situation evolves, stakeholders in the oil industry will be closely monitoring Saudi Arabia's next steps and their effects on global supply and demand.

https://shuttech.com/business/saudi-arabia-scraps-100-oil-target-to-focus-on-market-share/

[exim-pedia]

The Global Mustard Oil Market: Insights and Statistics

Mustard oil has long been a staple in Indian kitchens, renowned for its culinary versatility and health benefits. In the fiscal year 2023-2024, India not only reaffirmed its position as the world’s largest producer of mustard oil, with a record production of 12 million metric tons, but also demonstrated significant growth in export value and quantity.

Mustard Oil Production in India

India's mustard oil primarily comes from yellow, black, and brown mustard seeds. Rajasthan stands out as the largest producer, contributing 40-50% of the country’s total mustard oil production. Over the years, mustard oil has become integral to Indian cooking, especially in the northern and northeastern regions, where it is used for frying, dressing salads, and even for therapeutic hot oil massages.

Mustard Oil Export Statistics

India’s mustard oil export performance in 2023-2024 was impressive, with exports totaling 4,885,437 metric tons valued at INR 15,370 crore. This represents a 35% increase in export value and a 13% increase in quantity compared to the previous fiscal year. The data indicates a robust demand for Indian mustard oil in international markets, primarily driven by rising disposable incomes and health awareness among consumers.

Major Export Destinations

India’s mustard oil is predominantly exported to countries such as Australia, the United Arab Emirates, and Canada. The breakdown of export volumes shows Australia leading with 134,270 metric tons, followed by the UAE and the United States.

Mustard Oil HSN Codes

For trade purposes, mustard oil is categorized under specific HSN codes:

15149120: Crude mustard oil

15149920: Refined edible mustard oil

23069012: Mustard seeds

These codes facilitate the classification and tracking of mustard oil in international trade.

Global Market Overview

The global mustard oil market is estimated to be valued at approximately $14.39 billion in 2023, with a projected compound annual growth rate (CAGR) of 4.9% from 2024 to 2030. In India, mustard oil comprises about 30% of the edible oil market, which totals around 20 million metric tons annually.

Key Drivers of Demand

Several factors contribute to the rising demand for mustard oil:

Health Benefits: Known for its heart health properties, mustard oil is increasingly favored by health-conscious consumers.

Culinary Versatility: Its use in various culinary applications, from cooking to salad dressings, makes it a popular choice.

Rising Incomes: As disposable incomes rise, consumers are willing to invest in healthier cooking oils.

Leading Mustard Oil Importers and Exporters

Top Mustard Oil Importing Countries

The following countries were the largest importers of mustard oil in 2023-2024:

United States: $4.9 billion

Netherlands: $1.1 billion

Germany: $570.5 million

Norway: $512.8 million

Top Mustard Oil Exporting Countries

Conversely, the largest exporters of mustard oil in 2023-2024 included:

Netherlands: $617.7 million

Czech Republic: $393.6 million

Ukraine: $315.9 million

Poland: $285.8 million

Despite its significant production capacity, India’s high domestic consumption has limited its ranking among global exporters.

Conclusion

As mustard oil continues to gain traction for its health benefits and culinary uses, India is poised to strengthen its role in the global market. Exporters can leverage this growth by targeting key international markets and utilizing essential trade data to connect with legitimate buyers.

For those interested in mustard oil export data, HSN codes, and finding suitable buyers, resources like Eximpedia.app provide invaluable insights and connections, helping to navigate the dynamic landscape of the mustard oil industry.

[cambcurrencies]

Eurozone Faces Headwinds, UK & US Show Mixed Signals

Eurozone Faces Headwinds, UK & US Show Mixed Signals Eurozone PMIs: The HCOB Composite PMI for August is forecasted to come in at 50.1, slightly lower than July’s 50.2. The Manufacturing PMI is expected to hold steady at 45.8, while the Services PMI is projected to drop slightly to 51.9 from 52.0. This suggests that while the service sector may stay stable, manufacturing could continue to face…

[turvooil]

Industry Oil: Trends, Key Segments, and Market Insights - Comprehensive Overview

Dive into the industry oil with our comprehensive guide. Explore the key segments, including exploration, refining, and distribution. Stay updated on emerging trends, technological advancements, and market dynamics. Understand the industry's role in the global economy and its response to environmental and regulatory changes. Get insights into the complexities and future of oil production and its impact on energy markets.

Call us at: +65 9838 5264

[trader-sg112]

Oil Prices Edge Higher Amid U.S. Rate Cut Optimism Despite Global Demand Concerns

Oil prices experienced a modest rise on Thursday, driven by optimism surrounding potential U.S. interest rate cuts that could stimulate economic activity and boost fuel consumption. Despite these gains, concerns over slower global demand kept the upward movement in check.

Brent crude futures saw an increase of 17 cents, or 0.21%, bringing the price to $79.93 per barrel. This rise helped recover some of the losses incurred the previous day. Similarly, U.S. West Texas Intermediate (WTI) crude futures rose by 21 cents, or 0.27%, to $77.19 per barrel.

The recovery in oil prices followed a more than 1% drop on Wednesday. This decline was prompted by an unexpected rise in U.S. crude inventories, which added to existing worries about an oversupply in the market. Additionally, geopolitical tensions, particularly concerning Israel's actions in Gaza, have also contributed to market volatility. The ongoing conflict and the allegations of war crimes have not only created humanitarian concerns but also added an element of uncertainty to the oil market.

The potential for U.S. interest rate cuts has generated optimism among investors, with the expectation that such a move would invigorate economic activities and, consequently, increase fuel demand. This hope for economic stimulation has provided some support to oil prices.

However, the broader context of global economic health continues to weigh heavily on the market. Concerns about a slowdown in global demand, fueled by economic uncertainties in major economies, persist. These factors are contributing to a cautious outlook among traders and analysts.

In summary, while the potential for U.S. interest rate cuts has sparked some optimism in the oil market, leading to a modest price increase, broader concerns about global demand and geopolitical tensions continue to influence market sentiment. The interplay between these factors will likely shape the oil market's trajectory in the coming weeks.

[farademetre]

InvestTalk - 3-3-2023 – Could March Be a Pivotal Month for the Oil Market?

China's economic statistics is continuing to surprise to the upside, while US oil consumption is beginning to recover after a significant decline in year-end 2022.

[rethinking-the-dollar]

Is the US dollar losing its global stronghold? Discover how shifting trade practices might pave the way for a new economic era.

[enterprisewired]

Oil Market Outlook 2024: Challenges and Expectations

As oil investors brace for the onset of 2024, concerns loom large over a potential surplus, sluggish economic growth, and persisting tensions in the Middle East that might trigger price volatility.

Recap of 2023 and Current Scenario

The benchmark Brent oil prices averaged approximately $80 per barrel this year, following a tumultuous 2022 where prices soared above $100 due to disruptions in Russian supplies post the Ukraine conflict. Despite hitting a record demand of over 100 million barrels per day (bpd), prices were constrained by a robust non-OPEC output and a robust dollar.

Forecasts and Projections

A Reuters survey projects an average Brent crude price of $84.43 per barrel in 2024. However, predictions vary, with the International Energy Agency forecasting demand growth at 1 million bpd, in contrast to OPEC’s estimation of 2.25 million bpd.

Expectations suggest a supply growth between 1.2 million and 1.9 million bpd in 2024, primarily propelled by non-OPEC producers, as outlined by consultancies Rystad Energy, J.P. Morgan, Kpler, and Wood Mackenzie.

Lower oil prices will persist into 2024: Portfolio Manager

Anticipated Market Dynamics in 2024

Macquarie’s global energy strategist, Vikas Dwivedi predicts an oversupplied oil market throughout the upcoming year.

Key Factors in 2024:

OPEC+ Compliance

The focus remains on OPEC+ adherence to planned voluntary output cuts, aiming for 2.2 million bpd reductions. According to ANZ, early supply data will determine if these cuts have been implemented, possibly leading to a minor deficit.

Wild Cards – Russia, Iran, Venezuela

The re-entry of Venezuelan oil into global markets due to suspended sanctions may persist for another six months, contingent upon the country’s adherence to an agreed electoral roadmap. Analysts also anticipate continued Russian and Iranian oil flow despite sanctions, influencing pump prices globally.

New Refineries and Crude Quality Mismatch

Analysts foresee relief in refined product tightness, especially in diesel, with over 1 million bpd of new refining capacity expected in various countries. However, the growing supply of light sweet oil from non-OPEC producers might lead to a narrower price spread between different crude grades.

Future Perspectives

While challenges persist, 2024 presents a complex landscape for oil markets. The intricate interplay between geopolitical tensions, OPEC+ decisions, and shifts in global supply and demand dynamics will undeniably shape the year ahead, influencing oil market and price behaviors across continents.

Curious to learn more? Explore our articles on Enterprise Wired

[presexpre]

A New Middle East Order?

Last year, which country claimed the title of the fastest-growing major economy in the world? Was it India, China, or one of the Asian tigers? Surprisingly, the answer is Saudi Arabia, boasting an impressive growth rate of 8.7 percent...

Read more at:

[wnewsguru]

भारत का रूस से कच्चे तेल का आयात घटकर सात माह के निचले स्तर पर आया

ऊर्जा की खेप पर निगाह रखने वाली कंपनी वॉर्टेक्सा के आंकड़ों के मुताबिक, अगस्त में भारत ने रूस से 14.6 लाख बैरल प्रतिदिन (बीपीडी) कच्चा तेल खरीदा। इससे पिछले महीने दुनिया के तीसरे सबसे बड़े तेल उपभोक्ता देश ने रूस से प्रतिदिन 19.1 लाख बैरल तेल खरीदा था। मई में आयात 20 लाख बैरल प्रतिदिन के उच्चस्तर पर पहुंच गया था।

[jvtrade]

हम स्मार्ट स्टॉक्स गोल्ड, सिल्वर, कॉमेक्स, फॉरेक्स और क्रिप्टो करेंसी ट्रेडिंग प्रदान कर रहे हैं

जेवी ट्रेड्स में शामिल हों अपनी आय बढ़ाने के लिए -

निवेश करें- MCX || NSE || NCDEX || FOREX || COMEX All CRYPTO CURRENCY मात्र 4999/- में ट्रेडिंग शुरू करें

[akash-lokhande]

Sandalwood Essential Oil Market

The report proves to be an effective tool that players can use to gain a competitive edge over their competitors and ensure lasting success in the global Salwood Essential Oil market.

Get Free Research Report Sample PDF: https://cutt.ly/30rZlfD

[cambcurrencies]

FOMC Minutes Loom; Canadian Inflation Eases to 2.5%

FOMC Minutes Overview: Minutes from the FOMC meeting are due today. Markets are waiting for any signal that hint at future Federal Reserve policy. Signs of continued monetary tightening will support the USD price action. This will affect both EUR/USD and GBP/USD. It will also affect USD/JPY. Canadian Inflation Data Yesterday, Canada released its inflation data for July, with the year-on-year…

[priyablog26]

 Cooking Oil Market May See a Big Move 2024-2030

 Cooking Oil Market May See a Big Move 2024-2030

Global Cooking Oil Market, Cooking Oil Market Demand, Cooking Oil Market Trends, Cooking Oil Market Analysis, Cooking Oil Market Growth, Cooking Oil Market Share, Cooking Oil Market Forecast, Cooking Oil Market Challenges, Cooking Oil Market Opportunity

At Intellect Markets, published a new research publication on " Cooking OilMarket Insights, to 2030" with 232 pages and enriched with self-explained Tables and charts in presentable format. In the Study you will find new evolving Trends, Drivers, Restraints, Opportunities generated by targeting Market associated stakeholders. The growth of the Cooking Oil Market was mainly driven by the increasing R&D spending across the world.

Get Free Exclusive PDF Sample Copy of This Research @  https://intellectmarkets.com/report/cooking-oil-market/request-sample

Some of the key players profiled in the study are: Adani Wilmar, Archer Daniels Midland Company, Bunge Limited, Conagra Brands, Inc., BASF SE, Cargill Incorporated, Nestle S.A., Ruchi Soya Industries Limited, Liberty Oil Mills, Lam Soon Group, Borges International Group.

Scope of the Report of Cooking Oil Market:  Cooking Oil Market employs a robust research methodology, encompassing past, present, and future analyses. the increasing demand for Drivers of market growth e.g., increasing population, rising disposable income, changing dietary habits urbanization. The Global Cooking Oil Market report serves as a valuable resource for understanding the market dynamics and making strategic decisions in this evolving industry. The Global Cooking Oil Market report plays a crucial role in providing a comprehensive overview of the market dynamics. It evaluates key segments, identifies emerging trends, assesses drivers and restraints, and offers insights into the competitive landscape.

Market Trends: With increasing awareness about health and nutrition, there's a growing demand for healthier cooking oils. This includes oils like avocado oil, coconut oil, and olive oil, which are perceived as healthier alternatives to traditional options like vegetable oil or corn oil due to their beneficial fatty acid profiles and potential health benefits.

Opportunities: Opportunities and emerging trends in growing demand for healthier cooking oils, innovations in packaging and processing, expanding markets in developing countries. With increasing awareness about health and nutrition, there's a growing demand for healthier cooking oils. This includes oils like avocado oil, coconut oil, and olive oil, which are perceived as healthier alternatives to traditional options like vegetable oil or corn oil due to their beneficial fatty acid profiles and potential health benefits.

As more people embrace plant-based diets, there's a rising demand for oils derived from plants. Oils such as sunflower oil, safflower oil, and soybean oil are commonly used and are preferred by consumers seeking plant-based options. Specialty oils, such as walnut oil, sesame oil, and pumpkin seed oil, are gaining popularity for their unique Flavors and potential health benefits.

Market Drivers: Drivers of market growth e.g., increasing population, rising disposable income, changing dietary habits, urbanization

Restraints and challenges e.g., health concerns, fluctuating prices of raw materials, regulatory issues.

Have Any Questions Regarding Global Cooking Oil Market Report, Ask Our Experts@ https://intellectmarkets.com/report/cooking-oil-market/ask-an-expert

The Titled Segments and Sub-Section of The Market Are Illuminated Below: Cooking Oil Market Research Report – Segmentation by Product Type (Palm Oil, Soybean Oil, Sunflower Oil, Rapeseed Oil, Olive Oil, Coconut Oil, and Others); By Packaging Type (Pouches, Jars, Cans, Bottles, and Others); By Nature (Organic, Conventional); By Category (Refined, Semi-Refined, Unrefined); By End User (Domestic, Industrial, Food Service);

Region Included are: Global, North America, Europe, Asia Pacific, South America, Middle East & Africa

Country Level Break-Up: United States, Canada, Mexico, Brazil, Argentina, Colombia, Chile, South Africa, Nigeria, Tunisia, Morocco, Germany, United Kingdom (UK), the Netherlands, Spain, Italy, Belgium, Austria, Türkiye, Russia, France, Poland, Israel, United Arab Emirates, Qatar, Saudi Arabia, China, Japan, Taiwan, South Korea, Singapore, India, Australia and New Zealand etc.

Read Detailed Index of Full Research Study at  https://intellectmarkets.com/report/cooking-oil-market

Thanks for reading this article; you can also get region wise report version like Global, North America, Middle East, Africa, Europe, South America, etc

Contact US: Intellect Markets, Unit No. 4, Lakshmi Enclave, Nizam pet, Hyderabad, Telangana, India - 500090 Phone: +1 347 514 7411, +91 8688234923 sales@intellectmarkets.com

[trader-sg112]

Oil Market Update: Brent and WTI Futures Steady Amid China and Japan Economic Concerns

Oil futures experienced a mixed week, with Brent crude oil for September delivery holding steady at $82.38 per barrel, while West Texas Intermediate (WTI) crude futures edged up to $81.41 per barrel. Despite this minor uptick, Brent crude saw a decline of approximately 0.3% over the week, and WTI was on track for a near 2% loss. This downward trend is largely attributed to ongoing worries about economic growth and demand in China, the world’s largest crude importer.

Recent GDP data from China revealed that the economy grew less than anticipated in the second quarter, fueling concerns about future oil demand. Adding to the uncertainty, Japan's economic outlook has also become more ambiguous following recent inflation data from Tokyo that did not meet expectations. As global markets grapple with these economic signals, the oil market remains volatile, reflecting investor apprehension about future demand and economic stability.

The interplay of these factors has created a cautious atmosphere in the oil market, with traders closely monitoring economic indicators from major global economies to gauge their impact on crude oil demand and pricing.

[latestindustryreports]

Base Oil Market Insights, Opportunity, Analysis, Growth Potential & Forecast 2030

The Insight Partners Announces release of latest market assessment- Global Base Oil Market 2030. This Report offers an exhaustive evaluation of a range of business environment factors impacting market participants. The market information introduced inside this report is assimilated and reliant on a few strategies, for example, PESTLE, Porter's Five, SWOT examination, and the effect of COVID-19 pandemic updates on the Base Oil market.

This report integrates the valuation of Base Oil market size for esteem (million USD) and volume (K Units). Investigators have used top-down, bottom-up, primary, and secondary research methods to evaluate and approve the market conclusions. Key market participants have been recognized through auxiliary examination of their market shares, optional sources, and basic essential sources. Central participants contend in the global market are- .

According to the latest research by The Insight Partners, the global Base Oil market is estimated to create lucrative potential for Base Oil market players' expansion. Companies can gauge accurate market projections.

Key objectives of this research are:

To explore Global Base Oil Market size by respective indicators.

To scrutinize the sum and estimation of the Global Base OilMarket, Based on key aspects.

To offer an account of the competitive landscape and investigate their development plans.

To examine the Global Base Oil Market for growth possibilities, and strategic growth.

To review the Global Base Oil Market size (volume and worth) from the organization, key market regions, items and applications, and statistical data.

To generate competitive learnings and factors analysis, SWOT examination, and business improvement plans for the future.

To scrutinize the range of available and novel organic business growth strategies.

COVID-19 Impact Analysis

The pandemic of Covid-19 has impacted on Base Oil market with immediate disruptions on regional and global scales. Companies faced challenges in managing supply-demand equilibrium and consistent key performance indicators (KPIs). This impacted investors and overall ROIs during the pandemic period. This report covers the influences of pandemic-period policies on business operations. Furthermore, this section will also highlight post-pandemic opportunities for companies in the Base Oil market.

What all adds up to the credibility of this research?

Detailed overview of current Base Oil market situation.

Precisely estimated market revenue projections and CAGR to streamline resources.

Regional coverage to uncover new markets for business

Competition analysis intends to help companies in a competitive edge.

Facts-based crystal-clear insights for business success.

The research is customized as per business requirements.

Access to PDF, and PPT formats of this research.

Insight Partners is committed to offering our customers tailored market research solutions and consultations as per their needs and desires. Companies can get their requirements to our analysts and we will provide certain customized insights to help them cater to their goal. Companies opting for customization of this research could save thousands of dollars needed to buy large market reports which may burden them with unnecessary buying.

To Summarize the Key Highlights of this Report:

Market Size & Forecast by Revenue | 2030

Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities

Market Segmentation – A detailed analysis by product, types, end-user, applications, segments, and geography

Competitive Landscape – Top Market vendors and other prominent vendors

Covid-19 Impact Analysis

Recent Base Oil Market Developments

Strategic Recommendation