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Thursday, 28 May 20
OIL DEMAND RECOVERED BY 20% IN MAY AGAINST APRIL: RUSSIAN ENERGY MINISTER - TASS
TASS LOGOOil demand remains at a low level but the demand in May increased by 20% against April, Russian Energy Minister Alexander Novak said, cited by the Ministry.
 
“Despite the grave situation, the industry continues working. We also see that motor gasoline prices remain flat year-to-date and diesel fuel prices increased by just 1.5% from the year-start,” the Minister noted.
 
The oil surplus is about 7-12 mln barrels per day so far but the Energy Ministry expects market rebalancing owing to demand growth in June – July, Novak added.
 
Oilfield services
The demand for oilfield services plummeted 50% and the government has prepared support measures for the sector.
 
“We have prepared a range of proposals related to support of [oilfield service] companies, with the demand for their services down by 50% approximately. [The demand] should be brought to at least 80% of the level, as it was last year,” the source noted.
Source: TASS


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Recent News

Monday, 18 May 20
THERMAL COAL SPOT PRICE TUMBLES 25 PER CENT, PUTTING PRESSURE ON SOME PRODUCERS - ABC RURAL
The spot price for thermal coal has fallen 25 per cent per cent in the past month with one leading analyst saying it is because of a reduction in d ...


Monday, 18 May 20
CHINA'S COAL OUTPUT UP 1.3 PCT IN JANUARY-APRIL: XINHUA
Output of raw coal in China rose 1.3 percent year on year to 1.15 billion tonnes in the first four months this year, official data showed. &nbs ...


Sunday, 17 May 20
A 55,000 OPEN ILIGAN FIXING AT $6,500 VIA INDONESIA REDELIVERY INDIA - BALTIC BRIEFING
Capesize A precipitous fall in the market this week had the Capesize 5TC shedding over 50 per cent in value. A small rebound at the end of the ...


Friday, 15 May 20
CHINA'S COAL CONSUMPTION TO FALL Y/Y IN SECOND QUARTER, IMPROVEMENT EXPECTED IN SECOND HALF - INDUSTRY BODY: REUTERS
China’s coal consumption is expected to decline in the second quarter from a year earlier, but will see an improvement in the second half of ...


Thursday, 14 May 20
OPEC REVISES DOWN GLOBAL OIL DEMAND FORECAST AGAIN
Crude Oil Price Movements Crude oil prices recorded a second sharp monthly drop in April, amid an increasing oil surplus in the spot market. Th ...


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