Page 16 - Oil Demand

Oil prices slip on demand worries even as Covid lockdowns begin to ease

Brent crude futures fell 21 cents, or 0.6 per cent, to $35.96 by 0120 GMT. US West Texas Intermediate (WTI) crude futures were down 31 cents, or 0.9 per cent, at $34.04 a barrel

Lockdown impact: Fuel demand in India plunged to historic lows in April

In its latest report, the International Energy Agency has said India's annual fuel consumption will decline 5.6 per cent in 2020

Oil demand won't recover to 2019 levels until end of 2021: Morgan Stanley

The Wall Street bank expects benchmark US oil prices to stabilise at around $40 a barrel next year

Statsguru: Why crude oil went berserk last week and is it just a blip?

Oil traded at a negative price on a one-month West Texas Intermediate futures contract, but it didn't for successive months' futures contracts

Brent oil futures plunge again as growing glut feeds market panic

Monday and Tuesday have been two of the most turbulent days in the history of oil trading, as investors confronted the reality that worldwide supply will overwhelm demand for months or years

Covid-19: Oil crashes into negative territory for the first time in history

The May US WTI contract fell $55.9, or 306 per cent, to settle at a discount of $37.63 a barrel after touching an all-time low of -$40.32 a barrel

Covid-19: Energy agency says 2020 worst year in history for oil demand

We may see it was the worst year in the history of global markets, said Fatih Birol, head of the IEA

India plans to fill strategic oil storage by the third week of May: Report

India's fuel demand in March declined by 17.8%, the lowest in over two decades

Oil tanker rates double as demand for storage and transport resurfaces

Freight rates for very large crude-oil carriers (VLCC) along the Middle East Gulf to China route were assessed at about $180,000 a day on Monday

Moscow suggests OPEC+ to tackle demand dip, Saudi says no talks on new deal

Trump last week said he would get involved in the oil price war between Saudi Arabia and Russia at the appropriate time

As coronavirus outbreak destroys fuel demand, global refiners consider cuts

Traders, all speaking on condition of anonymity, said it was extremely difficult for refiners to plan their run rates because the situation changes every day

As coronavirus destroys fuel demand, global refiners consider cuts

Gasoline demand in the United States, the world's largest oil consumer, is plunging. International flights are being grounded worldwide, slamming jet fuel demand

World's 2020 oil demand growth virtually eliminated over COVID-19: OPEC

OPEC reduced the growth in world demand for oil from 990,000 barrels per day to 60,000 bpd, a 93 per cent drop

Coronavirus scare: Refiners to get rare oil cheap as demand slows in China

Refiners in India, the world's third-biggest oil importer, rarely get the opportunity to buy suitable grades from areas like the Mediterranean and Latin America because of higher freight rates.

Coronavirus: Oil use to suffer first quarterly drop in a decade, says IEA

"Global oil demand has been hit hard by the novel coronavirus and the widespread shutdown of China's economy," it said.

Opec cuts 2020 demand forecast by a third amid Coronavirus worries

The cartel reduced projections for demand growth in the first quarter by 440,000 barrels a day, or about a third, in its monthly report

Global oil demand could nearly halve if coronavirus threat escalates

The outbreak comes at a time when geopolitical risks to oil supply are likely to remain elevated in 2020, as both the US and Iran continue their maximum pressure campaigns

Opec expects oil demand to fall in 2020, may maintain supply curbs

OPEC and its partners have been limiting supply since 2017

Electric vehicles' rise may lead to slow global oil demand from 2025: IEA

The IEA expects there will be 330 million electric cars on the road by 2040

Oil demand growing at slowest pace since 2008 financial crisis: IEA

From January to May, oil demand increased by 520,000 bpd, marking the lowest rise for that period since 2008