Oil Demand

Reliance resume oil swap with Venezuela's PDVSA under US licence: Report

A supertanker carrying about 1.9 million barrels of Venezuelan Merey heavy crude departed earlier this month for India's Sikka port

Oil little changed as demand weakness offsets sanctions-driven supply risks

Weak demand, particularly in top importer China, and non-Opec+ supply growth were two factors behind the move

Markets Today: FIIs; Enviro Infra IPO; Dow, S&P at record; Oil & Gold slide

At 6:55 AM, GIFT Nifty futures were down 13.5 points, trading at 24,260, indicating a flat to negative start for the markets

Opec cuts forecast for 2024 oil demand growth, lowers projection for 2025

The Organization of the Petroleum Exporting Countries in a monthly report said world oil demand will rise by 1.82 million barrels per day in 2024, down from 1.93 million bpd it expected last month

IEA forecasts surplus oil supply, weak demand from China despite stimulus

China, which has accounted for more than 60 per cent of global oil demand growth in the last decade

OMCs set to invest over Rs 2 trillion to meet India's growing oil demands

Projected capacity increases aim to address domestic energy needs and enhance global supply

Petroleum product exports shrink 14% in August as global demand cools

Exports in this category have decreased by nearly 3 per cent to 18.1 mt in the first five months of 2024-25, largely due to sluggish diesel exports

India to lead global oil demand growth in 2024, surpassing China: IEA

Global oil demand is experiencing its slowest growth since 2020, primarily due to weak demand from China and a drop in Russia's global oil supply

India's oil demand set to plateau by mid- 2040s: BP Chief Economist

Global oil demand will flatline till 2035 before falling, as Chinese demand slows

Opec cuts global oil demand growth forecast in 2024, citing China

The reduction still leaves Opec at the top end of industry estimates. Oil was steady after the report was released, trading above $80 a barrel

Oil future prices head for weekly gain on solid 2024 demand outlook

US consumer sentiment weakened in June to a seven-month low as inflation and income worries linger, a survey showed on Friday

Oil prices set for best week in over 2 months on positive demand outlook

The Organization of Petroleum Exporting Countries (OPEC) stuck to a forecast for relatively strong growth in global oil demand for 2024 and Goldman Sachs projected solid US fuel demand this summer

Global crude oil supply to outpace demand by 2030 as glut looms: IEA

Demand growth to be driven by India, China

Crude imports hit 21-month high in Jan on strong industrial activity

India's fuel consumption rose 8.2% year-on-year last month, government data showed earlier this month

Refining reality: World expects India to go past China in global oil demand

Can the country's refining capacity keep up?

India will be world's biggest oil demand growth driver through 2030: IEA

The country is already second largest net importer of the fuel, say agency in report on energy security

India to overtake China as biggest driver of global oil demand in 2027: IEA

India will overtake China as the biggest driver of global oil demand in 2027 as transportation and industry consumption in the world's fastest-growing major economy will drive growth despite a big push for clean energy and electrification, the International Energy Agency said on Wednesday. The Paris-based agency in a special Indian Oil Market Outlook to 2030 report released at the India Energy Week here, said the country's oil demand will rise from 5.48 million barrels per day in 2023 to 6.64 million bpd in 2030. China currently is the biggest driver of oil demand and India ranks No.2 in growth. The numbers given by IEA in the report seem to talk of crude oil processed into fuel for domestic as well as for exports. The domestic consumption as per the oil ministry data is around 5 million barrels per day (bpd). "India's oil demand will grow at a rapid pace by 2030 despite accelerated green energy moves," IEA director of energy markets and security Keisuke Sadamori said. "Growth in .

India to be largest global oil demand growth driver through 2030: IEA

The agency forecast India's demand would reach 6.6 million bpd in 2030, up from 5.5 million bpd in 2023

$14 trillion investment needed by 2045 to meet global energy demands: Opec

Haitham al-Ghais, secretary general of Opec stated no single source alone could cater to the growing global energy demand

Oil settles at highest in nearly eight weeks on strong economic growth

Both benchmarks made weekly gains of more than 6%, marking their biggest weekly increase since the week ending Oct. 13 after the start of the Israel-Hamas conflict in Gaza