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Latest Articles in oil demand
India's Russian Oil Import Reaches New High In June, Signs Of Declining Growth
The attractiveness of Russian oil has diminished for Indian refiners as the discounts have narrowed, and payment settlement issues have emerged, prompting them to look for alternative sources in the Middle East
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Oil Price Falls Over 1% As Demand Dampens
Brent crude fell 96 cents or 1.2 per cent to USD 78.91 a barrel by 1153 GMT and US West Texas Intermediate crude dropped by 90 cents or 1.2 per cent to USD 74.52 on a second straight day of losses for both contracts
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Fuel Demand Falls In June Due To Monsoon Slowdown
Consumption of fuel, a proxy for oil demand, totalled 19.31 million tonnes in June, down from 20.06 million tonnes in May, data from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry showed
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Oil Prices Fall Following Slow Fuel Demand, Weak China Data
Brent crude futures declined 26 cents or 0.4 per cent to USD 73.77 a barrel by 0647 GMT whereas, US West Texas Intermediate (WTI) crude futures slipped 22 cents or 0.3 per cent to USD 69.34 a barrel
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Oil Falls On Demand Concerns As More Rate Hikes Are Expected
On Thursday, Brent dropped about USD 3 a barrel after the Bank of England raised interest rates by a bigger-than-expected half a percentage point. Central banks in Norway and Switzerland also hiked rates
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G7 Coalition Agrees $60 Per Barrel Price Cap For Russian Oil
The nations said they anticipated that any revision of the price would include a form of grandfathering to allow compliant transactions concluded before the change
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India’s Imports Of Natural Gas, Oil To Zoom by 2030: IEA Report
The latest energy outlook stated that demand for natural gas in the country would nearly double to 115 billion cubic meters (bcm) in 2030 from 66 bcm in 2021, with most of the growth coming from manufacturing and other industry
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OPEC+ Oil Supply Cut Could Push World Into Recession, Says IEA
It revised the global oil growth demand forecast underpinned by further downgrades to global GDP growth expectations from major institutions
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OPEC Trims Oil Demand Growth For 2022, 2023
It cited slowing global growth, resurgence of Covid in China and subsequent containment measures and high inflation to hurt demand
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Oil Prices Continue Their Fall As Recession Fears Weigh
Investors are now assessing the continued aggressive rate hike pace by the US Federal Reserve, the slowdown in global growth and the resurgence of Covid cases in China to hurt global oil demand
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Oil Prices Drop Ahead Of Potential Large US Rate Hike
Oil prices have tumbled in the past two weeks on recession concerns despite a drop in crude and refined products exports from Russia amid Western sanctions and supply disruption in Libya
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Global Energy Consumption Topped Pre-pandemic Levels In 2021: BP Report
Oil demand last year was 3.7 million barrels per day (bpd) below 2019 levels, driven primarily by weakness in the aviation sector, which was 33 per cent below pre-pandemic levels, BP said in its 2021 Statistical Review of World Energy
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Oil Rises On Tight Supply Though Interest Rate Hikes Weigh
Brent was on track for its first weekly dip in five weeks, and U.S. crude for its first decline in eight weeks, in line with a fall in equity markets amid fears of a possible recession as central banks joined a chorus of outsized rate hikes
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Russia Oil Supply Drop To Double In May: IEA
Still, lower demand amid a COVID-19 surge in China, output increases from OPEC+ producers and beyond along with the largest ever draw on emergency oil storage by the United States and its IEA member allies ought to prevent any sharp deficit, it said
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India's Oil Demand Likely To Jump 8% In 2022
Mobility has continued to improve, as average driving activity in India increased. Oil demand this year has increased as states relaxed COVID-19 restrictions in line with declines in new infections
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