Oil Demand

Showing of 1 - 20 from 27 results
Oil Demand - Total results - 27
Oil prices fall in early trade after data shows rise in US crude inventories; concerns mount about new viral outbreaks
Business

Oil prices fall in early trade after data shows rise in US crude inventories; concerns mount about new viral outbreaks

Saudi Arabia’s cabinet has urged OPEC+ countries to reduce oil output further to restore balance in global crude markets, the country’s state news agency reported early on Wednesday

Oil prices fall 1% as persistent glut weighs on rates; demand plummets 30%, virus pandemic curtails movement
Business

Oil prices fall 1% as persistent glut weighs on rates; demand plummets 30%, virus pandemic curtails movement

The coronavirus pandemic has eroded global oil demand even as some governments began to ease lockdowns.

Coronavirus impact: Fuel demand nearly halves in April as lockdown, travel curbs erode economic activity
Business

Coronavirus impact: Fuel demand nearly halves in April as lockdown, travel curbs erode economic activity

Consumption of fuel, a proxy for oil demand, totalled 9.93 million tonnes-its lowest since 2007, government data showed on Saturday.

Oil prices fall on US-China tensions, weak factory data; crude inventories likely to increase in coming weeks
Business

Oil prices fall on US-China tensions, weak factory data; crude inventories likely to increase in coming weeks

While global oil demand is expected to recover modestly from April lows as countries ease some lockdown measures, the glut created over months in storage facilities will loom over the markets.

Royal Dutch Shell cuts dividend for first time since World War Two as oil demand drops due to coronavirus pandemic
Business

Royal Dutch Shell cuts dividend for first time since World War Two as oil demand drops due to coronavirus pandemic

Royal Dutch Shell cut its dividend for the first time since World War Two on Thursday as the energy company retrenched in the face of an unprecedented drop in oil demand due to the coronavirus pandemic

ONGC asks govt to waive cess, royalty as plummeting oil prices not enough to cover operating cost
Business

ONGC asks govt to waive cess, royalty as plummeting oil prices not enough to cover operating cost

State-owned ONGC has asked the government to waive payment of oil cess and royalty as plummeting international oil prices have meant that the rate it now gets does not even cover the operating cost, sources said

Oil price collapse in US not to lead to any big drop in petrol, diesel prices in India, say experts
Business

Oil price collapse in US not to lead to any big drop in petrol, diesel prices in India, say experts

The historic rout in oil markets that sent US crude prices plummeting to as much as minus $40 a barrel is unlikely to translate into any big reduction in petrol and diesel prices in India as domestic pricing is based on the different benchmark, and refineries are already filled up to brim and cannot buy US crude just yet

Stock Market Latest Updates: Sensex tanks over 1,000 points, Nifty below 9,000-mark; except pharma, all other sectoral indices end in red
Business

Stock Market Latest Updates: Sensex tanks over 1,000 points, Nifty below 9,000-mark; except pharma, all other sectoral indices end in red

Stock Market Today LIVE Updates: Sensex plunges 870 points, Nifty at 9,000-level; Rupee slips 26 paise to 76.79 against dollar

Rupee gives up early gains, slides to all-time low of 76.44 as dollar strengthens; weak domestic equities weigh on local unit
Business

Rupee gives up early gains, slides to all-time low of 76.44 as dollar strengthens; weak domestic equities weigh on local unit

At the interbank foreign exchange, the rupee opened strong at 76.07, but soon lost ground and finally settled at 76.44, registering a fall of 17 paise over its previous close.

OPEC, Russia approve biggest-ever oil cut to support prices amid coronavirus pandemic; cut unprecedented deal
Business

OPEC, Russia approve biggest-ever oil cut to support prices amid coronavirus pandemic; cut unprecedented deal

OPEC, Russia approve biggest-ever oil cut to support prices amid coronavirus pandemic; unprecedented deal made with oil producing nations

Coronavirus Outbreak: IOC declares force majeure on oil purchases from Saudi, UAE, Iraq, Kuwait
Business

Coronavirus Outbreak: IOC declares force majeure on oil purchases from Saudi, UAE, Iraq, Kuwait

India's top oil firm IOC has declared force majeure on crude purchases from four of its biggest suppliers - Saudi Arabia, Iraq, UAE and Kuwait - as refinery run rates have been cut down in view of plummeting fuel demand following a nationwide lockdown

Coronavirus Outbreak: India's vegetable oil demand set to drop for first time in decades amid 21-day nationwide lockdown
Business

Coronavirus Outbreak: India's vegetable oil demand set to drop for first time in decades amid 21-day nationwide lockdown

Demand for vegetable oil in India is poised to fall for the first time in decades as restaurants have pulled down their shutters to comply with a government order that imposed a 21-day nationwide lockdown to stem the spread of the coronavirus

Oil crisis: Saudi Arabia, Russia fracas over production cut sends prices crashing; puts Africa's cash-strapped producers in peril
Business

Oil crisis: Saudi Arabia, Russia fracas over production cut sends prices crashing; puts Africa's cash-strapped producers in peril

A three-year supply pact between the Organization of the Petroleum Exporting Countries (OPEC) and other oil producers, including Russia, fell apart this month after Moscow refused to support Riyadh’s plan for deeper production cuts,

US crude hits 18-year low at $24.44 per barrel as lockdowns, travel restrictions spread; demand in April expected to fall
Business

US crude hits 18-year low at $24.44 per barrel as lockdowns, travel restrictions spread; demand in April expected to fall

Brent crude was trading down $1.39, or nearly 5 percent, at $27.34 a barrel, after dropping to $27.31, its lowest since early 2016.

Oil prices on track for biggest weekly fall in four years as global spread of coronavirus stokes demand fears
Business

Oil prices on track for biggest weekly fall in four years as global spread of coronavirus stokes demand fears

Investors are increasingly worried about an economic slowdown weighing on oil demand as the virus spreads beyond its epicentre in China to more than 40 other countries.

India's oil demand growth set to overtake China by mid-2020, says International Energy Agency
Business

India's oil demand growth set to overtake China by mid-2020, says International Energy Agency

India’s oil demand growth is set to overtake China by mid-2020s, priming the country for more refinery investment but making it more vulnerable to supply disruption in the Middle East, the International Energy Agency (IEA) said on Friday

India's diesel demand growth likely to be in low gear until mid-2020; fuel exports may rise in FY 2019-20
Business

India's diesel demand growth likely to be in low gear until mid-2020; fuel exports may rise in FY 2019-20

Diesel accounts for about two-fifths of refined fuel demand in India, which has grown by its slowest pace since fiscal year 2014 this year amid tight credit markets, contracting auto sales and slowing rail and air traffic.

OPEC sees bearish oil outlook for rest of 2019 on economic slowdown, points to surplus in 2020
Business

OPEC sees bearish oil outlook for rest of 2019 on economic slowdown, points to surplus in 2020

The bearish outlook due to slowing economies amid the US-China trade dispute and Brexit could press the case for OPEC and allies including Russia to maintain a policy of cutting output to boost prices.

India's rising oil demand to support investments in refineries, upstream production: Moody's
Business

India's rising oil demand to support investments in refineries, upstream production: Moody's

India's rising oil consumption will support its investments in refining capacity additions and upstream production, but imports will keep growing amid stagnant production, Moody's Investors Service said on Monday