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India’s sharp revival in gasoline appetite to surpass even pre-pandemic levels has prompted its refiners to increasingly queue up to import lighter crudes in recent months, but the fourth quarter could see a tilt in the balance in favor of heavier grades as gasoil demand growth is expected to pick up speed. Traditionally, Indian refineries ...
Quality comes with a cost, and for Asian refiners aspiring to make low-carbon crude a bigger part of their procurement baskets it’s going to be no different. In a region where energy import costs have a big influence on overall financial strength of most developing economies, the common view is that Asia will be moving ...
Read more about Oil stocks are the best cyclical, economy reopening bet: Chris Wood on Business Standard. Global markets, according to a note by Goldman Sachs, are currently underestimating the demand for oil
India: Crude Oil Imports To Bear Covid Brunt In May With the second wave of coronavirus pandemic raging across India, its full impact will reflect in reduced crude oil imports by refineries for May, according to S&P Global Platts Analytics. This assumes significance given that India is a key refining hub in Asia, with an installed capacity of over 249.36 million tonnes per annum (mtpa) through 23 refineries. The fuel demand in India has again dipped with several states imposing lockdowns in the world’s third-largest oil importing nation. “India’s crude imports and refinery runs remained...
S&P Global Platts has cut India’s 2021 demand forecast for oil products by 9 per cent to 400,000 barrels per day (b/d) now, as compared to 440,000 b/d estimated last month. The latest revision, S&P Global Platts said, was done after taking into account the surging Covid cases across the country that have triggered lockdowns and mobility curbs across key economic hubs in India. “Lockdowns have been imposed in some pockets and provinces. Therefore, we have adjusted India's total oil product demand growth for 2021 down to 400,000 b/d for the latest update, as against 440,000 b/d last month,...