Sunday, February 5, 2023
  • Contact Us
  • Terms of Use
  • Privacy Policy
  • DMCA
  • CCPA
Oil Market News Today
Advertisement
  • Home
  • Market
    • All
    • Africa
    • Europe
    • Middle East
    • Russia
    • US
    • Venezuela
    Chinese oil giant CNPC eyes BP’s $1.5bn stake in Oman gas field

    Chinese oil giant CNPC eyes BP’s $1.5bn stake in Oman gas field

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Construction of Dangote oil refinery Africa’s largest nears completion

    Construction of Dangote oil refinery Africa’s largest nears completion

    Oil rises further from 3-week lows, but headwinds loom amid pandemic

    Oil rises further from 3-week lows, but headwinds loom amid pandemic

    TC Energy says new U.S. permit to boost Keystone pipeline oil exports by

    TC Energy says new U.S. permit to boost Keystone pipeline oil exports by

    • US
    • Russia
    • Europe
    • Middle East
    • Africa
    • Venezuela
  • Oil News
  • Oil & Gas
  • Diesel
  • Oil Price
  • Politics
  • Industry
  • Companys
  • Production
  • Natural Gas
No Result
View All Result
  • Home
  • Market
    • All
    • Africa
    • Europe
    • Middle East
    • Russia
    • US
    • Venezuela
    Chinese oil giant CNPC eyes BP’s $1.5bn stake in Oman gas field

    Chinese oil giant CNPC eyes BP’s $1.5bn stake in Oman gas field

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Construction of Dangote oil refinery Africa’s largest nears completion

    Construction of Dangote oil refinery Africa’s largest nears completion

    Oil rises further from 3-week lows, but headwinds loom amid pandemic

    Oil rises further from 3-week lows, but headwinds loom amid pandemic

    TC Energy says new U.S. permit to boost Keystone pipeline oil exports by

    TC Energy says new U.S. permit to boost Keystone pipeline oil exports by

    • US
    • Russia
    • Europe
    • Middle East
    • Africa
    • Venezuela
  • Oil News
  • Oil & Gas
  • Diesel
  • Oil Price
  • Politics
  • Industry
  • Companys
  • Production
  • Natural Gas
No Result
View All Result
Oil Market News Today
No Result
View All Result
Home Market Venezuela

Oil prices slip as COVID-19 case surge dents fuel demand hopes – ET

July 30, 2020
in Venezuela
Oil prices slip as COVID-19 case surge dents fuel demand hopes – ET
Share on FacebookShare on Twitter


Latest Oil MArket NewsPosts

Oil extraction plant in Srinagar helps floriculturists boost their income –

Global Crude Oil Refinery Market Research Report: Know Market Dynamics,

The Middle Eastern influence on the world oil market | SOFREP

Oil prices slip as COVID-19 case surge dents fuel demand hopesMELBOURNE: Oil prices dipped on Thursday as a surge of coronavirus infections around the globe raised fears a rebound in fuel demand would stutter just as major oil producers are set to raise output in August.

U.S. West Texas Intermediate (WTI) crude futures fell 6 cents, or 0.2per cent, to $41.21 a barrel at 0130 GMT, while Brent crude futures lost 7 cents, also 0.2per cent, to $43.68 a barrel.

Both benchmark contracts hovered around unchanged levels after having jumped on Wednesday after the U.S. Energy Information Administration reported a sharp, unexpected 10.6 million barrel drop in crude stockpiles last week.

However, at the same time U.S. gasoline and distillate stocks, which include diesel and heating oil, both rose against expectations for inventories to fall – highlighting the patchy nature of the recovery in fuel demand.

“It wasn’t all good news, with signs that demand is still struggling to grow,” ANZ analysts said in a note.

Analysts said the mixed price moves on Thursday were due to demand concerns with COVID-19 infections increasing and raising the prospects for lockdowns to be reimposed.

“As long as we’re recording new daily cases, the risk for oil demand is just too strong,” said Vivek Dhar, a commodities analyst at Commonwealth Bank of Australia.

Deaths from COVID-19 topped 150,000 in the United States on Wednesday, while Brazil, with the world’s second-worst outbreak, set new daily records of confirmed cases and deaths. New infections in Australia hit a record on Thursday.

“If we see lockdowns or partial lockdowns, transportation gets hit disproportionately. Transportation accounts for two-thirds of oil demand,” Dhar said.

The potential hit to the demand rebound comes just as the Organization of the Petroleum Exporting Countries (OPEC) and its allies, together known as OPEC+, are set to step up output in August, adding about 1.5 million barrels per day to global supply.





Read More: Oil prices slip as COVID-19 case surge dents fuel demand hopes – ET

Tags: Brent crudecaseCommonwealth Bankcoronavirus infectionsCOVID19DEMANDdentsEnergy Information AdministrationfuelhopesKenneth MaxwelloilpricesslipSurgethe u.s. energy information administrationWest Texas Intermediate

Related Posts

Oil extraction plant in Srinagar helps floriculturists boost their income –
Venezuela

Oil extraction plant in Srinagar helps floriculturists boost their income –

by Oil Market
July 29, 2020
0

Srinagar (Jammu and Kashmir): The modern oil extraction plant set up in Srinagar has given a boost to floriculture,...

Read more
Global Crude Oil Refinery Market Research Report: Know Market Dynamics,
Venezuela

Global Crude Oil Refinery Market Research Report: Know Market Dynamics,

by Oil Market
July 27, 2020
0

The Global Crude Oil Refinery Market 2020 Report Covers the in-depth valuable analysis on Crude Oil Refinery Market Size,...

Read more
The Middle Eastern influence on the world oil market | SOFREP
Venezuela

The Middle Eastern influence on the world oil market | SOFREP

by Oil Market
July 26, 2020
0

The Organization of the Petroleum Exporting Countries (OPEC), is an intergovernmental organization founded by Saudi Arabia, Kuwait, Iraq, Iran,...

Read more
June oil imports lowest in nearly nine years; none from Venezuela – ET
Venezuela

June oil imports lowest in nearly nine years; none from Venezuela – ET

by Oil Market
July 25, 2020
0

NEW DELHI: Oil imports fell in June, hitting their lowest since October 2011, as refiners curbed purchases due to...

Read more
Food Grade Mineral Oil Market 2020-2025
Venezuela

Food Grade Mineral Oil Market 2020-2025

by Oil Market
July 24, 2020
0

A new research study has been presented by Precision Market Reports (PMR) after a comprehensive analysis on Food Grade...

Read more
Texas Regulators Ask Washington To Act Against Saudi Oil Dumping In U.S. |
Venezuela

Texas Regulators Ask Washington To Act Against Saudi Oil Dumping In U.S. |

by Oil Market
July 23, 2020
0

The federal government should take steps against Saudi Arabia and Russia’s dumping of oil on the American market during...

Read more
Next Post
Saudi Arabia may cut September crude oil prices to Asia: survey

Saudi Arabia may cut September crude oil prices to Asia: survey

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Today Oil Markets

Demand Increasing for Moringa Oleifera Seed Oil Market Worldwide Forecast

Oil and Gas Simulation and Modeling Software to Discern Steadfast Expansion

3 years ago

ZOZEN WNS Oil-fired Boiler Assists the Food Enterprise in Venezuela to

3 years ago
Rise of remote working is ‘biggest threat to oil demand,’ says analyst

Rise of remote working is ‘biggest threat to oil demand,’ says analyst

3 years ago
Global Barite and Unconventional Oil and Gas Market 2020 by Key Players,

Global Barite and Unconventional Oil and Gas Market 2020 by Key Players,

3 years ago
U.S. oil refiners’ shares rebound to pre-lockdown levels

U.S. oil refiners’ shares rebound to pre-lockdown levels

3 years ago
Can Northern Oil and Gas Inc. (AMEX:NOG) Offer Investors Safety?

Can Northern Oil and Gas Inc. (AMEX:NOG) Offer Investors Safety?

3 years ago

Oil Market

Chinese oil giant CNPC eyes BP’s $1.5bn stake in Oman gas field

Chinese oil giant CNPC eyes BP’s $1.5bn stake in Oman gas field

July 31, 2020
Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

July 31, 2020
Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

July 31, 2020
Construction of Dangote oil refinery Africa’s largest nears completion

Construction of Dangote oil refinery Africa’s largest nears completion

July 31, 2020

Russia Oil Market

Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

July 31, 2020
Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

July 31, 2020
CORONAVIRUS (COVID-19) IMPACT ON Sandalwood Essential Oil Market OUTLOOK,

CORONAVIRUS (COVID-19) IMPACT ON Sandalwood Essential Oil Market OUTLOOK,

July 29, 2020
Gas, Oil and Dual-fuel Burners Market Size 2020, Global Industry Trends,

Gas, Oil and Dual-fuel Burners Market Size 2020, Global Industry Trends,

July 28, 2020

Europe Oil Market

Oil rises further from 3-week lows, but headwinds loom amid pandemic

Oil rises further from 3-week lows, but headwinds loom amid pandemic

July 31, 2020
Shell posts $18billion loss in second quarter – News for the Oil and Gas

Shell posts $18billion loss in second quarter – News for the Oil and Gas

July 30, 2020
Path to net zero: European oil majors outpace US companies on climate goals

Path to net zero: European oil majors outpace US companies on climate goals

July 29, 2020
Oil price holds near four-month high amid bearish signals – News for the

Oil price holds near four-month high amid bearish signals – News for the

July 28, 2020
  • Contact Us
  • Terms of Use
  • Privacy Policy
  • DMCA
  • CCPA

© 2020 MarketFor Oil.com

No Result
View All Result
  • Home
  • Market
    • US
    • Russia
    • Europe
    • Middle East
    • Africa
    • Venezuela
  • Oil News
  • Oil & Gas
  • Diesel
  • Oil Price
  • Politics
  • Industry
  • Companys
  • Production
  • Natural Gas

© 2020 MarketFor Oil.com