The International Energy Agency (IEA) on Sunday (local time) shared an update regarding the release of emergency oil as the US and Israel’s war on Iran rages on. The agency said oil from the agency’s emergency reserves will soon start flowing to global markets to address supply disruptions. Earlier this week, the IEA announced that…
The International Energy Agency (IEA) has proposed the largest ever release of crude oil from strategic reserves in its history, The Wall Street Journal reported on Tuesday, citing officials familiar with the matter. Energy officials from the IEA’s 32 member countries discussed the proposal at an emergency meeting amid the US-Israel war with Iran on…
Consequently, Indian firms with meaningful exposure to the Middle East are facing heightened near-term volatility. The impact is particularly acute for the engineering, procurement and construction (EPC) sector, alongside oil & gas services, power transmission, and infrastructure. According to a PL Capital note, the extent of the damage will depend on project concentration, contract terms,…
