Why supply increases when price increases

Brent crude futures fell 27 cents, or 0.3%, to $97.88 a barrel by 0034 GMT after settling 1.5% lower on Friday. U.S. West Texas Intermediate crude was at $91.87 a barrel, down 22 cents, or 0.2%, following a 2.4% drop in the previous session. Saudi Aramco stands ready to raise crude oil output to its maximum capacity of 12 million barrels per day (bpd) if requested to do so by the Saudi Arabian government, Chief Executive Amin Nasser told reporters on Sunday. "We are confident of our ability to ramp up to 12 million bpd any time there is a need or a call from the government or from the ministry of energy to increase our production," Nasser said. He added that China's easing of Covid-19 restrictions and a pickup in the aviation industry could add to demand. Investors are looking ahead to China economic data later on Monday for demand cues at the world's top crude oil importer. Oil prices rebounded more than 3% last week after a damaged oil pipeline component disrupted output at … [Read more...] about Oil prices ease as Aramco says ready to boost crude output

Nam Hai Dinh Vu Port in Hai Phong City. (Photo: VNA) This is one of the factors that make the demand for logistics real estate increase sharply, it said. A survey by Savills Vietnam showed that Vietnam's logistics industry is enjoying significant growth due to the development of the national economy, and the manufacturing and e-commerce sectors. According to a report on the emerging market logistics index released earlier this year by Agility, a leading logistics and transportation service provider in 2022, Vietnam ranks 11th among the world’s top 50 emerging markets, only behind Indonesia, Malaysia and Thailand in the Association of Southeast Asia Nations. Vietnam's transport and logistics market is estimated to grow at a compound annual growth rate (CAGR) of 7 percent in the 2021-2026 period. The Vietnamese government encourages enterprises manufacturing and attracts investment by establishing industrial and economic zones. Despite challenges from the Covid-19 pandemic, … [Read more...] about Demand for logistics real estate increases sharply: Savills Vietnam

More trains will be available during the National Day holiday to serve rising travel demand. (Photo: VNA) Hanoi (VNA) – Vietnam Railways (VNR) is planning adding many trains to popular tourist destinations to serve high travel demand during the National Day holiday, which will last from September 1 to 4. The corporation said apart from the regular daily train schedule , it will operate additional ones on routes such as Hanoi - Ho Chi Minh City, HCM City - Quy Nhon, HCM City - Nha Trang, HCM City - Phan Thiet, Hanoi - Vinh, Hanoi - Dong Hoi, Hanoi - Hai Phong, and Hanoi - Lao Cai. During the holiday, VNR will still apply discounts of 5 - 7% on the return legs for round-trip tickets and reduce ticket prices for social policy beneficiaries, including Heroic Vietnamese Mothers, war invalids, the elderly, students, and trade unions’ members, it noted./. VNA … [Read more...] about Trains to increase during National Day holiday

Coal production at Thong Nhat Mine in the northeastern province of Quang Ninh. The demand for primary energy, including coal, will continue to increase, possibly peaking in the 2030-35 period. — Photo thanthongnhat.vn Viet Nam’s coal imports are forecast to rise to meet domestic production demand, according to a draft strategy for developing the coal industry in Viet Nam recently introduced by the Ministry of Industry and Trade (MoIT). Accordingly, Viet Nam will import about 50-83 million tonnes of coal per year during the period from 2025 to 2035, with the volume gradually falling to about 32-35 million tonnes by 2045. The data from the MoIT shows domestic coal consumption increased rapidly from 27.8 million tonnes in 2011 to 38.77 million tonnes in 2015, and about 53.52 million tonnes in 2021. The volume of coal consumed at present has more than doubled compared to 2011, mainly for electricity production. The demand for primary energy, including coal, will continue to … [Read more...] about Viet Nam to increase coal imports in 2025-35: Ministry

VABA asks relevant authorities to study and adjust the domestic ceiling price bracket for airlines to promote the recovery of the industry. — Photo a family.vn The president of the Viet Nam Aviation Business Association (VABA) has proposed to adjust the ceiling fare for domestic airlines to promote the industry's recovery. At a national conference between the Prime Minister and businesses last week, VABA's chairman Pham Viet Dung said: "Viet Nam's aviation market is growing rapidly on the recovery trend but not evenly in all segments." The domestic market has fully recovered compared to before the pandemic. In contrast, the international market has recovered very slowly, said Dung, mentioning domestic passenger transport increased by 12 per cent compared to 2019, global freight increased, but household goods decreased. However, revenue was disproportionate due to increased fuel prices and some input prices, airlines still suffered losses, and liquidity did not improve much, … [Read more...] about VABA proposal raising domestic airfare ceiling

Under a planned new regulation, the Health Ministry of Indonesia is looking to control the promotion and packaging of e-cigarettes, which have remained unregulated since their legalisation in 2018. The ministry is also seeking to increase the size of graphic health warnings on tobacco packaging from 40% to 90%, ban the advertising, sponsorship and promotion of tobacco products, and prohibit the sale of single cigarettes. The number of underage smokers continues to increase each year, especially since the legalisation of e-cigarettes, Imran Agus Nurali, the ministry’s director of health promotion and community empowerment, told a webinar on August 11. He stressed the need for stronger measures to reduce tobacco consumption to protect future generations from the impact of smoking. Banning the advertising, sponsorship and promotion of tobacco products is also crucial as according to the 2019 Global Youth Tobacco Survey, around 65% of Indonesia’s children are exposed to tobacco ads … [Read more...] about Indonesia plans to tighten rules to curb underage smoking