Page 73 - எண்ணெய் மற்றும் வாயு பெட்ரோலியம் செய்தி நிகழ்வுகள் கதைகள் கட்டுரைகள் பகுப்பாய்வு வர்ணனை தலைப்புச் செய்திகள் ஸ்டாக்ஸ் நிதி பொருட்கள் வரைபடங்கள் படங்கள் News Today : Breaking News, Live Updates & Top Stories | Vimarsana
by Bloomberg
|Wednesday, March 17, 2021
Oil headed for its longest run on declines in over six months after the International Energy Agency said talk of an upcoming supply shortfall could be misleading.
(Bloomberg) Oil headed for its longest run on declines in over six months after the International Energy Agency said talk of an upcoming supply shortfall could be misleading.
Futures in New York declined 0.9%. OPEC and its partners could quickly deploy their stalled production spare capacity to quash oil price rallies, the IEA said in its monthly report. Demand won’t return to pre-virus levels until 2023, the agency said in a separate report.
Oil markets aren t on the verge of a new price supercycle, the International Energy Agency said.
(Bloomberg) Oil markets aren’t on the verge of a new price supercycle as plentiful supplies mean any concerns of a shortfall are misguided, the International Energy Agency said.
Crude rallied to a 14-month high last week after Saudi Arabia and its allies stunned traders with plans to keep a tight grip on output. Wall Street banks such as Goldman Sachs Group Inc. have called the beginning of a bull market as demand outstrips supply.
“Our data and analysis suggest otherwise,” the Paris-based IEA said in its monthly report. “There is more than enough oil in tanks and under the ground to keep global oil markets adequately supplied.”
by Bloomberg
|Wednesday, March 17, 2021
Indian state-run refiners reportedly will cut purchases of Saudi crude and buy more from the U.S. on the spot market.
(Bloomberg) Indian refiners plan to buy less oil from the Middle East in the coming months as OPEC+’s supply restrictions makes U.S. crude more attractive.
Strong gasoline demand due to people favoring private vehicles amid the Covid-19 pandemic and a slower recovery in diesel is also giving low-sulfur American grades an edge over heavier and more sour Middle Eastern varieties, officials at three state-run refineries in the the world’s third-biggest oil importer said.
Global oil demand won t return to pre-pandemic levels until 2023, the International Energy Agency said.
(Bloomberg) Global oil demand won’t return to pre-pandemic levels until 2023, and growth will be subdued thereafter amid new working habits and a shift away from fossil fuels, the International Energy Agency said.
Fuel consumption will average just over 101 million barrels a day in 2023, fully recouping the 9 million a day lost last year when lockdowns emptied roads and grounded flights, the IEA said in a report.
But as trends like remote-working endure, and as governments seek to limit climate change, hydrocarbon use will falter. Oil demand in the middle of this decade will be about 2.5 million barrels lower than the agency projected last year. Gasoline consumption has probably peaked already.
Rystad Energy and Oil & Gas UK comment on a potential licensing ban.
A potential ban on new exploration licenses in the North Sea would have limited impact on the medium- and long-term outlook.
That’s according to Rystad Energy analyst Sonya Boodoo, who communicated with Rigzone after
a Telegraph story reported the UK was mulling a ban on new oil exploration licenses in the North Sea and considering ending permits in 2040.
“The UK is a mature region with limited exploration upside in that time frame,” Boodoo said in the statement. “In terms of production, we forecast that less than five percent of production will come from yet to be awarded acreage by 2040,” Boodoo added.