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2018-05-16 12:15:00

INDIA'S OIL DEMAND UP 4.5%

INDIA'S OIL DEMAND UP 4.5%

BLOOMBERG - India's oil consumption surged 4.5 percent in April as industrial activity gathered pace in Asia's third-largest economy and sales of trucks and buses soared.

The nation's total oil demand expanded to 17.7 million tons in the month from 16.9 million a year ago, rising for eight straight months, according to the oil ministry's Petroleum Planning & Analysis Cell.

Demand for diesel, which accounts for about 40 percent of India's oil consumption, increased 2.7 percent to 7.2 million tons. Demand for diesel is typically muted in April as farming consumption shrinks following the harvest season in March.

India's industrial and economic growth has picked up in recent months. Core sector industrial production rose 4.1 percent in March. Sales of passenger and commercial transport vehicles also surged in April. Passenger vehicle sales, including sport-utility vehicles, rose 7.5 percent during the month, while those of trucks and buses climbed 76 percent. India sold almost 25 million vehicles between April last year and March, including 3.3 million cars and 856,453 trucks and buses, according to the Society of Indian Automobile Manufacturers.

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Earlier:

 S-E.Asia
2018, May, 14, 11:20:00

SOUTHEAST ASIA: THE MAIN ENGINE

IMF - the region remains the main engine of global growth, accounting for more than 60 per cent of the global growth. Regional output is projected to grow by 5.6 per cent in 2018 and 2019; 5.6 per cent is about 0.1 percentage point higher than we expected in last October, supported by trade as well as accommodative global financial conditions.

 S-E.Asia
2018, May, 10, 13:15:00

INDIA'S OIL RISK

BLOOMBERG - India sees a greater probability of global crude oil prices remaining high for a longer period, a scenario that threatens to dent growth and fan inflation in Asia’s third-largest economy.

 S-E.Asia
2018, April, 23, 14:35:00

INDIA'S OIL DEMAND UP

PLATTS - India ended the first quarter of 2018 with robust oil products demand growth of 8.5%, the fastest quarterly growth since Q3 2016, as a renewed push on infrastructure projects and surging auto sales lifted gasoline and gasoil consumption.

 S-E.Asia
2018, April, 16, 09:30:00

SOUTHEAST ASIA: ENHANCING POTENTIAL

WBG - Growth in developing East Asia and Pacific (EAP) is expected to remain strong and reach 6.3 percent in 2018, according to the latest World Bank economic report on the region. Prospects for a continued broad-based global recovery and robust domestic demand underpin this positive outlook. Still, emerging risks to stability and sustained growth require close attention.

 S-E.Asia
2018, April, 16, 09:25:00

WBG: SOUTH ASIA'S GROWTH

WBG - South Asia has regained its lead as the fastest growing region in the world, supported by recovery in India. With the right mix of policies and reforms, growth is expected to accelerate to 6.9 percent in 2018 and 7.1 percent next year.

 S-E.Asia
2018, April, 11, 13:30:00

INDIA WANTS $50

BLOOMBERG - “We are a very price-sensitive consumer,’’ Pradhan said on Tuesday. “From Indian consumers’ point of view, I will be more than happy if the price is around $50 a barrel.’’

 S-E.Asia
2018, April, 11, 13:10:00

SAUDI - INDIA'S REFINERY: $44 BLN

PLATTS - India's state-run refiners and Saudi Aramco signed an agreement Wednesday to jointly build an integrated refinery and petrochemical complex on India's west coast at a cost of $44 billion, Saudi energy minister Khalid al-Falih said.

 

 

 

 

Tags: INDIA, OIL, DEMAND

Chronicle:

INDIA'S OIL DEMAND UP 4.5%
2018, May, 21, 10:40:00

U.S. PETROLEUM DEMAND UP BY 750 TBD

API - American Petroleum Institute reported that the first four months of this year saw U.S. petroleum demand average 750 thousand barrels a day above the same period in 2017 despite higher prices, a sign of solid economic activity. April also saw the U.S. produce a record 10.5 million barrels per day (MBD) of oil.

INDIA'S OIL DEMAND UP 4.5%
2018, May, 21, 10:35:00

IMF: EGYPT'S GROWTH UP

IMF - “Egypt’s growth has continued to accelerate during 2017/18, rising to 5.2 percent in the first half of the year from 4.2 percent in 2016/17. The current account deficit has also declined sharply, reflecting the recovery in tourism and strong growth in remittances, while improved investor confidence has continued to support portfolio inflows. In addition, gross international reserves rose to $44 billion by end-April, equal to 7 months of imports.

INDIA'S OIL DEMAND UP 4.5%
2018, May, 21, 10:30:00

U.S. RIGS UP 1 TO 1,046

BAKER HUGHES A GE - U.S. Rig Count is up 1 rig from last week to 1,046, with oil rigs unchanged at 844, gas rigs up 1 to 200, and miscellaneous rigs unchanged at 2. Canada Rig Count is up 4 rigs from last week to 83, with oil rigs up 6 to 38 and gas rigs down 2 to 45.

INDIA'S OIL DEMAND UP 4.5%
2018, May, 18, 09:20:00

OIL PRICE: ABOVE $79

REUTERS - Brent crude futures LCOc1 were at $79.57 per barrel at 0310 GMT, up 27 cents, or 0.3 percent from their last close. Brent broke through $80 for the first time since November 2014 on Thursday. U.S. West Texas Intermediate (WTI) crude futures were at $71.62 a barrel, up 13 cents, or 0.2 percent, from their last settlement.

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