Page 2 - Fuel Demand

Oil prices ease on fears of more interest rate hikes denting fuel demand

Leaders of the world's top central banks reaffirmed on Wednesday they think further policy tightening will be needed to tame stubbornly high inflation

India's diesel sales soar, overall fuel consumption eases in April

Consumption was down to about 18.41 million tonnes from 18.45 million a year ago

Fuel demand slips in January from nine-month peak on back of lower mobility

Sales of diesel fell 7.6% in January from a month ago to 7.18 million tonnes, while sales of gasoline, or petrol, fell 5.3% to 2.82 million tonnes, the PPAC data showed

Oil prices rise to $88 a barrel on back of stronger China outlook

Last week Brent rose 2.8%, while the U.S. benchmark logged a 1.8% gain

Oil prices gain around 1% on optimism over China's fuel demand recovery

But OPEC kept its 2023 global demand growth forecast unchanged

India's fuel demand hits 9-month high in Dec due to uptick in PV sales

On a daily basis, consumption of gasoline rose marginally in December compared to the previous month

Fuel demand in India hits eight-month peak in November amid festivals

Consumption of fuel, a proxy for oil demand, was 2.4% higher than the previous month, and rose 10.2% year-on-year to 18.84 million tonnes in November, according to the data

Spike in winter demand for diesel in Europe offers huge scope for India

State-owned refiners are in a strong position to gain from the surging demand for diesel from Europe as winter sets in and natural gas supplies from Russia are set to dwindle on fresh sanctions

World's most-crucial fuel diesel heads for shortage touching everything

Within the next few months, almost every region on the planet will face the danger of a diesel shortage

October fuel demand rises 3.4% year-on-year to 18.37 million tonnes

Sales of bitumen, used for making roads, were 11.5% lower, while fuel oil use edged up 0.9% in October

Oil prices fall as US Fed interest rate hike raises fuel demand concerns

OPEC and its allies including Russia, known collectively as OPEC+, also decided to cut targeted output by 2 million bpd from this month

Emissions to hit a peak by 2025, demand for fossil fuel to reduce: IEA

Global greenhouse emissions will peak in 2025 as the world goes through a "profound reorientation" in terms of energy use, said the World Energy Outlook 2022 report

EU set to adopt emergency package in Nov to tackle current energy crisis

A package of emergency energy measures proposed by the European Commission last week to mitigate the effects of the current energy crisis should be adopted by November end, senior officials said

Fuel demand to far outstrip supply until 2025: Natural gas exporters

The leader of the coalition of gas-exporting countries said on Tuesday the group expects demand for the fuel to far outstrip supply until 2025 amid a global energy crisis sparked by the war in Ukraine. Secretary General of the Gas Exporting Countries Forum Mohamed Hamel, of Algeria, said at the group's meeting in Cairo that although investment was increasing in natural gas production the countries didn't expect to have new sources of supply online for another three years. We believe that this market tightness to be with us until probably 2025 or 2026 when the new projects that are being developed will come on-stream, he said in a press conference on Tuesday attended by energy ministers from some of the coalition's members. Natural gas prices have skyrocketed worldwide following the Russian invasion of Ukraine early this year. Amid sanctions imposed on Russia's energy sector, much of European Union, which formerly depended on Russia for 40 per cent of its supply, has struggled find .

World is in its 'first truly global energy crisis': IEA chief Fatih Birol

The head of the International Energy Agency said its members have oil reserves available to conduct another round of releases if needed

Fuel sales soar 22%-26% in Oct on festive season demand: Industry data

India's fuel sales soared in the first half of October with an across-the-board surge in transportation fuel demand on the back of the economic activity picking up as festival season kicked in, preliminary industry data showed. Petrol and diesel sales jumped 22-26 per cent year-on-year while also rising month-on-month in the first half of October. Petrol sales soared 22.7 per cent to 1.28 million tonne during October 1-15 when compared to 1.05 million tonne of consumption in the same period last year. Sales were 31 per cent higher than COVID-marred first half of October 2020 and 33.4 per cent more than pre-pandemic October 1-15, 2019. Demand was 1.3 per cent higher than the first half of September 2022. Diesel, the most used fuel in the country, posted a near 27 per cent rise in sales in the first fortnight of October to 3.08 million tonne when compared to the same period last year. Consumption was up 16 per cent over October 1-15, 2020 and 26.6 per cent higher than pre-COVID 2019

India's fuel demand slips to 10-month low in September: Government data

India's monthly fuel demand in September was at the lowest since November 2021, government data released on Friday showed

India's September fuel demand rises 8.1% YoY, gasoline sale 8.8% higher

India's fuel demand rose 8.1% in September compared with the same month last year

Centre aims to boost refining capacity as fuel demand continues to rise

The oil ministry has been asked by the government to prepare a report on the country's future fuel demand and refining capacity needs

Oil prices slump again, hit by demand concerns over Covid-19 restrictions

Some OPEC+ members have called for cuts. The group is next due to meet on Sept. 5 amid weakening demand in Asia that spurred Saudi Arabia to lower its official selling prices to that region