Page 16 - Oil Demand

Indian Oil Q1 net profit falls 47% to Rs 1,910.84 crore on poor demand

Indian Oil Corporation Ltd reported a 47% drop in its June quarter net profit as pandemic outbreak pummelled fuel demand and shrank refining margins

Oil demand may hit 100 million b/d in 2041 if economic recovery sustains

Platts Analytics sees continued growth in long-term petrochemicals demand as potentially delaying peak oil demand to 2021.

Global oil demand will soar by a record 7 million bpd in 2021: OPEC

Oil prices collapsed this year after global demand fell by a third when governments imposed lockdowns to stop the spread of the virus

Apple market capitalisation closes in on Saudi Aramco's as No. 1 in world

Apple gained as much as 4.2% on Monday for a market capitalization above $1.70 trillion, trailing Saudi Aramco at about $1.78 trillion based on current exchange rates.

Goldman Sachs sees oil demand returning to pre-coronavirus levels by 2022

Demand is expected to fall by 8% this year, before rebounding 6% in 2021, the bank said

Oil pips $40 for first time since March on OPEC cuts, demand recovery seen

Brent has more than doubled after hitting a 21-year low below $16 in April, when U.S. crude went negative

China drives global oil demand recovery out of coronavirus collapse

Benchmark oil prices have also bounced back as lockdown measures eased, with Brent futures rallying 50% and US crude futures over 90% since May 1

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