India's fuel demand jumped by 13 percent in the first two weeks of June, for a first monthly rise since March, suggesting that the worst of the impact of the second COVID wave has peaked and consumption is rebounding.
Sales of diesel, the most used road fuel in the world's third-largest importer, and gasoline sales have rebounded so far this month, sources with knowledge of preliminary data from the biggest fuel retailers in India told Bloomberg on Wednesday.
India has started to ease some restrictions as daily COVID cases have been falling in recent weeks, leading to a rise in mobility and use of passenger vehicles.
Road transportation fuel sales are still off last year's levels at this time, according to Bloomberg estimates.
Recovering demand in India is giving hope to the oil bulls, and to OPEC, that the third-biggest crude oil importer in the world will start to see growing consumption of oil going forward, and the worst may be behind it.
A few weeks ago, oil demand in India was clouding the outlook of global crude consumption since the devastating second COVID wave resurged in March. India's uneven—and stalled—recovery was the key source of concern about global oil demand recovery, mostly because of the unknowns about when localized lockdowns to fight the spread of the pandemic would end and lift fuel demand for transportation and economic activities.
However, all analysts and organizations, including OPEC and the International Energy Agency (IEA) continue to see a strong rebound in global oil demand despite the Indian scare, to the point of executives at oil trading houses talking about $100 oil
Many investors have the vision to spot a diamond when they see one.
Few investors have the courage to buy a diamond selling cheap. Very few investors have the VISION (to spot the diamond), the COURAGE (to buy low ) and the PATIENCE to wait for the diamond to reflect its true brilliance for a very profitable investment.
PATIENCE is the greatest jewel of every successful investor...
Intra traders cannot expect much. This counter mainly for mid to long term investment. Patience brings victory. Sure kena 0.80c if oil able to sustain above usd 70. Relax cool.
TheGardener My two cents please take "Strong Dollar" serious. Please dont mess with it. Contraction is start, min last for 3 to 6 months. If you are short trade better away from market, mid n long term no problem. Gogogogogogogogogogo! 19/06/2021 4:35 PM
GET INTO THE STOCK BENEFIER FROM STRONG DOLLAR WILL DO. MARKET IS WELL ADJUSTED FOR GREATEST RUN. NO RISK
Appointed by Supreme Leader Ayatollah Ali Khamenei to the high-profile job of judiciary chief in 2019, Raisi was placed under U.S. sanctions a few months later over human rights violations.
Amnesty calls for Iran’s Raisi to be investigated over murder, torture AFP -June 19, 2021 8:35 PM facebook sharing buttontwitter sharing buttonwhatsapp sharing button
1. There's pressure on Exxon to cut emissions by activist through proxy campaigns.
2. 61% of Chevron shareholders voted for emissions cut during annual investor meeting last week.
3. Meanwhile, Dutch court ordered Royal Dutch Shell to cut emissions ASAP.
All above are gigantic oil producers. That's mean there will be shortage in oil supply soon. Cut emissions only but can you stop vehicles/planes from consuming oil. Simply theory = supply vs demand...will determine the oil price further. Once supply shortage and demand shoot then oil price will go up also
Who will benefit from this...of course Saudi and Russia ( and Asian countries will benefit also lerr). Just my 2c opinion.
Posted by Macgyver11 > Jun 20, 2021 8:03 PM | Report Abuse
Yes, oil possible to touch usd 80...why?
1. There's pressure on Exxon to cut emissions by activist through proxy campaigns.
2. 61% of Chevron shareholders voted for emissions cut during annual investor meeting last week.
3. Meanwhile, Dutch court ordered Royal Dutch Shell to cut emissions ASAP.
All above are gigantic oil producers. That's mean there will be shortage in oil supply soon. Cut emissions only but can you stop vehicles/planes from consuming oil. Simply theory = supply vs demand...will determine the oil price further. Once supply shortage and demand shoot then oil price will go up also
Who will benefit from this...of course Saudi and Russia ( and Asian countries will benefit also lerr). Just my 2c opinion
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
casion911
81 posts
Posted by casion911 > 2021-06-17 16:43 | Report Abuse
Now its a good time to buy serba dinamik. Buy now sure it will move upward sooner or later. 60 sen still. tp 1.6 come on