Oil Prices Hit Highest Since October on Weather and China Stimulus

07 Jan 2025 CW Team

Oil prices reached their highest levels since October on January 6, driven by colder weather in the Northern Hemisphere and economic stimulus measures in China, which could boost global fuel demand. Brent crude futures rose 15 cents, or 0.2%, to $76.66 a barrel by 0125 GMT, following Friday's close at its highest since October 14. U.S. West Texas Intermediate (WTI) crude gained 22 cents, or 0.3%, to $74.18 a barrel, marking its highest close since October 11. China announced a significant increase in fiscal stimulus, including funding from ultra-long-dated treasury bonds to support business investments and consumer spending. Additionally, the country's central bank indicated plans to reduce the reserve requirement ratio and cut interest rates at an appropriate time to bolster economic recovery. China, the world’s largest oil importer and second-largest consumer, faced a decline in crude imports and fuel demand last year due to slowing economic growth and a shift to cleaner transportation fuels. On the supply side, Goldman Sachs predicts a decline in Iran's oil production and exports by the second quarter of 2025 due to expected policy changes and stricter sanctions under the incoming U.S. administration. Iran's output could fall by 300,000 barrels per day to 3.25 million bpd, according to the forecast. Meanwhile, the U.S. oil rig count, a key indicator of future production, decreased by one to 482 last week, as per a report from energy services firm Baker Hughes. (ET)

Infrastructure Urban

10 Mar 2026

ABB to Invest Rs 6.25 Billion to Expand India Manufacturing

ABB recently announced plans to invest approximately Rs 6.25 billion ($75 million) in India during 2026 to expand its manufacturing footprint and research and development capabilities. The investment follows more than $35 million spent in 2025 and reflects the company’s continued focus on strengthening its ‘local-for-local’ strategy in the country.The investment will support ABB’s Electrification, Motion and Automation businesses and expand manufacturing capacity for infrastructure sectors such as renewable energy, metro rail, data centres and industrial applications. Approximately 300..

Six WOLFF Cranes Handle 60,000 m³ Concrete for German Hospital

Six WOLFF tower cranes are playing a key role in constructing a new hospital complex in Memmingen, Germany, supporting large-scale material handling for the project. The facility is being built on a 7.7-hectare site and will feature six floors, around 480 beds and a gross floor area exceeding 75,000 sq m.Building shell works began recently in February 2025. One WOLFF 6531.12 Cross crane supported early site preparation before being dismantled in autumn 2025, while five remaining cranes continue operations. Over an average deployment period of 16 months, the cranes are expected to move approxim..

REC Funds Rs 115.6 Million CSR Support for Bihar Eye Hospital

REC recently committed Rs 115.6 million under its Corporate Social Responsibility (CSR) programme for the procurement of clinical and non-clinical equipment at Sankara Eye Hospital in Saharsa, Bihar. The initiative aims to strengthen healthcare infrastructure and improve access to specialised eye care services in the region.A Memorandum of Agreement (MoA) was recently signed between Pradeep Fellows, Executive Director (CSR), REC Limited, and Wg Cdr V. Shankar (Retd), Trustee and Executive Director of Sankara Eye Hospital, at the REC office in the SCOPE Complex, New Delhi.The support is expecte..