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Oil Demand News
Global vehicle sales to fall by 2040, but oil demand to rise, study predicts
Tue, Nov 14, 2017
Global vehicle sales will decline over the next two decades as consumers embrace on-demand ride services like Uber, but demand for oil will keep rising, according to a study released Tuesday.
Oil prices steady near two-year high as supply cuts bite
Tue, Oct 31, 2017
Oil prices were steady to slightly firmer on Tuesday after a week of gains as the prospect of increasing U.S. exports dampened bullish sentiment that has driven Brent crude to more than two-year highs above $60 per barrel.
Global oil supply may see potential shortage after 2020: IEA
Tue, Mar 07, 2017
Developing countries account for all of the growth and Asia dominates, with about seven out of every 10 extra barrels consumed globally.
Price cuts push up petrol demand marginally in July
Fri, Aug 12, 2016
According to data released by Petroleum Planning and Analysis Cell, demand for petroleum products that are majorly decontrolled, including petrol, naptha, dropped to 10.52 million in July 2016 as against 11.33 million in June 2016—lowest in the current fiscal.
IEA cuts oil demand forecast on Brexit impact
Thu, Aug 11, 2016
The IEA said Thursday it had cut its oil demand growth forecast for 2017 because of a weaker outlook for the world economy following Britain`s vote to leave the European Union.
Oil takes breather from losses but oversupply concerns remain
Tue, Aug 02, 2016
Global fuel inventories are brimming as refineries have churned out huge volumes of diesel, gasoline and jet fuel but the supply glut has diminished profit margins and demand has been unable to keep up with supply.