Page 3 - Oil Demand

Oil prices edge up on signs of improving fuel demand, await Fed outlook

Oil prices rose as much as $1 on signs of improving fuel demand, although further gains were capped as the market awaited clues from the US Federal Reserve chairman

Oil prices edge up on signs of improving demand, market awaits Fed's clue

"Nevertheless, signs of strong demand are emerging," ANZ Research analysts said

India's oil demand to rise by 7.7% in 2022, fastest growing in world: OPEC

India's demand for petroleum products like petrol and diesel will grow by 7.73 per cent in 2023, the fastest pace in the world, an OPEC report said. India's demand for oil products is projected to rise from 4.77 million barrels per day (bpd) in 2022 to 5.14 million bpd in 2023, OPEC said in its monthly oil report. The growth in demand is the fastest in the world ahead of 1.23 per cent of China, 3.39 per cent of the US and 4.62 per cent of Europe. For 2023, the Organisation of Petroleum Exporting Countries (OPEC) projected a growth of 4.67 per cent in India's demand to 5.38 per cent. This, however, will be lower than 4.86 per cent growth in China. India is the world's third largest oil importing and consuming nation behind the US and China. The demand for petroleum products in India is supported by the healthy economic growth of 7.1 per cent, continuing economic reopening amid ease of COVID restrictions and easing of trade-related bottlenecks supporting both mobility and industria

Oil prices head for biggest weekly climb since April on supply halts

The International Energy Agency boosted its forecast for global demand growth as soaring natural gas prices and heat waves spur demand

Oil steady as International Energy Agency hikes 2022 demand growth forecast

Brent crude futures slipped 7 cents, or 0.1%, to $97.33 a barrel by 0829 GMT, while U.S. West Texas Intermediate crude futures eased 9 cents, or 0.1%, to $91.84.

Oil prices fall in early trade on demand worries, stronger US dollar

Oil prices fell about 1% in early trade on Wednesday, reversing gains from the previous session ahead of a meeting OPEC+ producers on fears of a slowdown in global growth

Oil prices fall as weak factory data fuels global demand concerns

Oil prices dropped again on Tuesday as investors absorbed a bleak outlook for fuel demand with data pointing to a global manufacturing downturn

How China became ground zero for auto chip shortage over past 2 years

The global chip shortage over the past two years has been caused by pandemic supply chaos combined with booming demand

Oil prices rise, Brent crosses $100 a barrel ahead of possible US rate hike

Brent crude futures for September climbed 68 cents, or 0.7%, to $100.25 a barrel by 0400 GMT after settling below $100 for the second straight session on Wednesday

India's June fuel consumption rises by 17.9% YoY at 18.67 mn tonnes: Govt

Consumption of fuel, a proxy for oil demand, totalled 18.67 million tonnes, data from the Indian oil ministry's Petroleum Planning and Analysis Cell showed.

Oil dips as investors torn by tight supply worries and recession fears

Oil prices slipped in early Asian trade after a rebound in the previous session, as investors remained torn between worries over tight global supplies and fears a recession could dampen demand

Oil prices rise in early trade after falling 3% in previous session

Brent crude futures rose 83 cents, or 0.8%, to $109.86 a barrel by 0012 GMT. WTI crude futures for August delivery rose 70 cents, or 0.7%, to $106.46 a barrel

OPEC+ alliance may not be much help with high oil, gasoline prices

The 23-member OPEC+ alliance, which includes Russia, is struggling to produce enough oil to keep up with the rebounding demand for fuel since the Covid-19 pandemic

Oil prices increase as supply concerns outweigh US fuel stocks build

Brent crude futures for September, the more actively traded contract, rose 63 cents, or 0.6%, to $113.08 a barrel at 0250 GMT

Oil trades sideways on fears of slower demand, supply uncertainty

Oil prices traded sideways on Friday after briefly rising nearly $1 per barrel, as the market balanced fears of slower demand from cooling U.S. economic activity with supply uncertainty

Oil slumps 5%, US gasoline price drops 6% as dollar reaches record high

With the Fed expected to keep raising interest rates, open interest in WTI futures on the New York Mercantile Exchange fell on Thursday to its lowest since May 2016

Oil rises on tight supply and Iran sanctions, though rate hikes weighs

Brent crude was up $1.13, or 0.9%, to $120.94 a barrel at 1016 GMT, and U.S. West Texas Intermediate (WTI) crude had gained $1.03, or 0.9%, to $118.62

OPEC keeps forecast for 2022 oil demand to exceed pre-Covid levels

OPEC leaves 2022 oil demand growth forecast at 3.36 mbpd, cuts 2022 Russian output forecast, leaves US shale steady

OPEC delegates see global oil demand growth slowing in 2023: Report

High crude prices have eaten into growth projections for 2022 and fed into expectations for slower growth in 2023.

Russia becomes India's second biggest oil exporter in May: Report

In May Indian refiners received about 819,000 barrels per day (bpd) Russian oil, the highest thus far in any month, compared to about 277,00 in April, the data showed