Cement News tagged under: oil prices

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Pakistan Stock Exchange crashes but cement script sustained

10 March 2020, Published under Cement News

The Pakistan Stock Exchange (PSX) plummeted Monday morning due to the crash in crude oil prices and the fear of the global spread of coronavirus. The PSX lost more than 2100 points in 100 index of stock across the board as all scripts were down, including cement industry. However, later the investors realised that fall in crude prices would not impact the cement industry, they have resumed fresh buying and most of the cement scripts regained their lost value. However, uncertainty is still ...

Brent oil prices expected to average US$62/bbl in 2020

25 February 2020, Published under Cement News

Brent oil is forecast to average US$62/bbl in 2020 on the back of voluntary (Saudi Arabia, Kuwait, UAE) and involuntary (Iran, Venezuela) declines in OPEC supply, according to a Bank of America (BofA) Global Research report. OPEC supply is expected to decline 1.2mbpd from the 4Q19 into the 4Q20, however, a roughly stable output is then seen through to 2025. The BofA report also projects Brent oil prices to average between US$50-70bbl from now until 2025. "As prices become more anchored arou...