OPEC Trims 2023 Oil Demand Forecast

15 Sep 2023 CW Team

The Organisation of the Petroleum Exporting Countries (OPEC) has revised down its 2023 oil demand forecast, reducing it by 1 lakh barrels per day (bpd) to 29 million bpd. This adjustment comes as a result of Saudi Arabia's decision to cut its oil production, causing a 3 million bpd shortfall in global oil supply. The move by OPEC underscores the influential role Saudi Arabia plays in the oil market.

This decision by OPEC reflects concerns about global oil market dynamics, including the ongoing impact of the COVID-19 pandemic, geopolitical tensions, and changing patterns of energy consumption. With the world still grappling with uncertainties, OPEC is taking a cautious approach to ensure stability in oil prices and supply.

Key factors influencing this revision include the delicate balance between supply and demand and the potential for unexpected disruptions in oil production. OPEC's decision is expected to have a ripple effect on global oil markets and could impact prices at the pump for consumers worldwide. Observers will closely monitor how this adjustment affects the energy landscape in the coming months.

Real Estate

17 Sep 2025

Indian REITs Offer 6-7.5 per cent Yield, Surpassing Many Global Markets

Indian Real Estate Investment Trusts (REITs) are delivering average yields of 6–7.5 per cent for unitholders, outperforming many mature markets, including the US, according to a report by Credai and Anarock.Credai, the apex body of Indian real estate developers, and property consultant Anarock released the report Indian REITs – A Gateway to Institutional Real Estate at an event in India.Currently, India has five listed REITs – Brookfield India Real Estate Trust, Embassy Office Parks REIT, Mindspace Business Parks REIT, Nexus Select Trust, and Knowledge Realty Trust. Nexus Select Trust pr..

Insolation Energy Wins 226 MW Solar Projects Under PM-KUSUM

Insolation Energy on Monday announced securing multiple solar projects totalling 226.45 MW, with an investment of Rs 7.5 billion, under the PM-KUSUM scheme. The orders were awarded to its wholly-owned subsidiary, Insolation Green Energy Pvt Ltd, by Jaipur Vidyut Vitran Nigam Limited for 20 sites and Ajmer Vidyut Vitran Nigam Limited for 115 sites, the company informed the exchanges.“The combined SPV solar power plants will total 226.45 MW under PM-KUSUM Component A, with the final levelised tariff at Rs 3.04 per unit for 16 sites, Rs 2.82 per unit for 5 sites, Rs 2.75 per unit for 53 sites, ..

Numaligarh Refinery Awards EPC Contract for Rooftop Solar Projects

State-owned Numaligarh Refinery Ltd. (NRL) has awarded a Letter of Award to Solarium Green Energy Ltd. for the rate contract covering the Engineering, Procurement, and Construction (EPC) of grid-connected rooftop solar PV projects at various locations. The projects fall within the categories of 51–200 kW and 201–1000 kW. Notable projects include a 140 kW rooftop solar plant at NRL Assam, a 760 kW plant at NRL Assam, and a 280 kW plant at NRL West Bengal.The supply order covers ex-manufacturing works and the dispatch price for plant and equipment for the 140 kW, 760 kW, and 280 kW rooftop s..