MOSL: Morning India (24/March/20): 1. Oil & Gas (Unprecedented times – Impact explained); 2. Hindustan Unilever (Signs agreement to acquire ‘VWash’ brand from Glenmark); 3. Alkem (Lockdown increases off-take o
Morning India (24/March/20): Morning India (24/March/20):
Today’s top research ideaOil & Gas: Unprecedented times - Impact explained- In Dec'19, OPEC+ countries had agreed for a production cut totaling 1.7mnbopd with effect from Jan'20. With additional voluntary cut from Saudi Arabia, the production cut would have totaled 2.1mnbopd. - However, Saudi Arabia has been expressing displeasure on non-compliance by other countries. As a result, in the OPEC+ meeting in early Mar'20, Russia and Saudi Arabia failed to reach a consensus on deepening oil production cuts. - Thereafter, both Russia and Saudi Arabia have been ramping up their production. Demand destruction due to COVID-19 has worsened the situation bringing down As a result, Brent from USD55/bbl in Feb'20 to USD28/bbl.
Piping hot news
China says coronavirus 'stemmed' in country; Wuhan begins easing restrictionsAs the world battles the fast-paced spared of the coronavirus pandemic, China on Monday said that COVID-19 has effectively been "stemmed" in the country and it started easing severe restrictions imposed on Wuhan's 11 million people who were under lockdown since January 23.
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