Page 8 - Oil Demand

Oil slips but set for weekly gain despite forecast for weaker demand

Oil fell on Friday, but was on track to post a slight weekly gain, broadly shrugging off a warning from the International Energy Agency that the spread of coronavirus variants is slowing oil demand

Oil holds above $70 despite forecasts for weaker demand growth

Brent crude was down 18 cents, or 0.2per cent, at US$71.13 a barrel by 1332 GMT. US crude lost 14 cents, or 0.2per cent, to trade at US$68.95. Over the week the benchmarks are up less than 1per cent

IEA cuts oil demand outlook on coronavirus, sees surplus in 2022

It's a marked reversal for the Paris-based agency, which just a month ago was urging the Opec+ alliance to open the taps or risk a damaging spike in prices

Oil prices slip as IEA warns of slowdown in global demand recovery

Oil prices declined on Thursday after the International Energy Agency said the spread of the Delta variant of the coronavirus would slow the recovery of global oil demand

OPEC sticks to oil demand view despite virus, sees more US shale coming

The OPEC in a monthly report also raised its forecast of supply from rivals, including US shale producers, next year, a potential headwind for the efforts of the group and allies to balance the market

Spread of Covid-19 Delta variant knocks oil demand outlook: IEA

Rising demand for oil abruptly reversed course in July and is set to proceed more slowly for the rest of the year due to the spread of the COVID-19 Delta variant, the International Energy Agency said

India's fuel demand rose 7.9% y-o-y in July at 16.83 million tonnes

Consumption of fuel, a proxy for oil demand, totalled 16.83 million tonnes, data from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry showed

Saudi Aramco Q2 profit up on higher prices, declares $18.8 bn as dividend

Company says its results were supported by the global easing of Covid-19 restrictions, vaccination campaigns

Petrol, diesel prices unchanged; here are the prices in your city today

In New Delhi, petrol is selling at Rs 101.84 per litre. In Mumbai, the price stands at Rs 107.83

Oil prices climb as US crude supplies tumble in peak demand season

Futures rose as much as 1.3 per cent in New York on Wednesday

Oil prices rise to $75 as US inventory drop counters virus worry

A rising number of coronavirus cases worldwide, despite vaccination programmes, has limited the upside for oil and remains a concern.

Oil prices edge higher as tight supply outweighs coronavirus spread

Brent crude futures rose 23 cents, or 0.3%, to $74.73 a barrel by 1150 GMT

Oil prices slip but set to end week steady on tight supply

LONDON (Reuters) -Oil slipped further below $74 a barrel on Friday but was on track to end the week little changed after a surprising recovery from Monday's slide, underpinned by expectations that supply will remain tight as demand recovers.

Oil slips but set to end week steady on tight supply as demand recovers

For the week, Brent was set to end the week up a marginal 0.2%, having declined in the previous three weeks. U.S. crude was poised to remain steady over the week.

Oil slip but heads for steady week on supply tightness as demand recovers

Oil prices trimmed overnight gains on Friday but were poised to end the week largely steady after rebounding from a sharp drop, underpinned by expectations supply will remain tight as demand recovers

Oil inches up as demand recovery seen tightening supply through 2021

Brent crude gained 50 cents to $72.73 a barrel by 11:10 a.m. EDT (1510 GMT)

Oil surges 4% amid better risk appetite despite weak demand outlook

Brent crude futures had gained $2.53, or 3.65 per cent, to $71.88 a barrel by 18.41 pm IST

Oil prices retreat on unexpected build-up in US crude inventories

Oil prices fell on Wednesday after an industry report showed an unexpected build-up in US oil inventories last week

Oil market sees improved demand, decline in surplus supply: Iraq minister

Iraqi Oil Minister Ihsan Abdul Jabbar said on Sunday that the oil market has seen an improvement in demand and a decline in surplus and stockpiles

OPEC sees world oil demand reaching pre-pandemic level in 2022

OPEC stuck to its forecast for a strong recovery in world oil demand in the rest of 2021, predicted oil use would rise further in 2022 similar to pre-pandemic rates, led by growth in China and India.