It is estimated that the bauxite import in Romania will decrease slightly in 2017

In the past five years, Romania’s imports of goods have been increasing year by year. In 2016, Romania imported a total of 74.4 billion U.S. dollars in merchandise imports, making it the 32nd largest importer of goods in the world.

Romanian bauxite imports accounted for 1.4% of its total value of imports. In 2016, Romania’s bauxite imports increased compared to 2015; however, it is estimated that the country’s bauxite imports will decline in 2017.

According to international trade data, Romania imported 1,386,109 tonnes of bauxite from the global market in 2016, an increase from the 1,367,887 tonnes imported in 2015. It is estimated that the bauxite in Romania will be reduced to 1339990 tons in 2017.

Romanian bauxite imports in 2015 and 2016 totaled $ 64 million and $ 62 million, respectively. It is estimated that the total value of bauxite imports in Romania will be reduced to 41.4 million U.S. dollars in 2017.

Sierra Leone is the largest source of bauxite imports in Romania. Last year, Romania imported a total of 1,370,182 tons of alumina from Sierra Leone. In addition to Sierra Leone, Turkey, China and Germany are also larger sources of bauxite imports in Romania.

PVA

Belarus will import 24 million tonnes of oil from Russia in 2018

Russia and Belarus have agreed to export 24 million tonnes of oil to Belarus in 2018, Russia’s deputy minister of energy, Morozov said, according to Russian news agency Tass. Of these, 18 million tonnes will be processed at the Belarusian refinery and the remaining 6 million tonnes will be exported to non-Eurasian countries, and Belarus will receive export tariff revenues from these oil.

PVA

IEA report brings bad news, oversupply resurgence

The International Energy Agency (IEA) reported in Thursday (December 14) that it would not be too happy for OPEC in 2018.

 

The report says the US oil supply rally will continue next year.

 

The biggest benefit of OPEC-led cuts is the US, which has returned to the market after a rebound in oil prices.

PVA

 

The report predicts that non-OPEC supplies could increase by 600,000 barrels a day this year and 1.6 million barrels next year. Global crude oil supply rose to 97.8 million barrels a day in November, the highest level of the year.

 

The OPEC monthly report also points to a difficult rebalancing of the oil market next year, as evidenced by the recent data released by the U.S. Energy Information Agency.

 

The IEA believes that global supply growth is outpacing demand growth, with oversupply of 200,000 barrels a day in the first half of next year.

 

Many things may change over the next few months, the report says, but the current pace of inventory is probably hard to maintain.

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