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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

Tuesday, 02 June 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.86 PCT - XINHUA
China Taiyuan coal transaction price index stood at 123.95 points Monday, down 0.86 percent week on week.   The index, released by Chi ...


Monday, 01 June 20
SUPRAMAX: IN SOUTH EAST ASIA RATES TRADED SIDEWAYS - BALTIC BRIEFING
Capesize A sober end to the week, with the market seemingly ready for the weekend. After a steady week of rate declines a small flurry of Atlan ...


Friday, 29 May 20
COVID-19: COAL SUPPLY BY CIL TO POWER SECTOR DIPS 22% TO 32 MT IN APRIL DUE TO DEMAND SLUMP - PTI
Over 95% of CIL’s production comes from its 171 open cast mines.   The supply of coal to the power sector by state-owned Coal In ...


Friday, 29 May 20
AUSTRALIA'S NEW HOPE WARNS OF HIT FROM COAL PRICE SLUMP - REUTERS
Australia’s New Hope Corp Ltd said on Thursday that a sudden drop in thermal coal prices and lower output from its Queensland operations woul ...


Friday, 29 May 20
GOVT MAY LAUNCH COAL BLOCKS AUCTION PROCESS UNDER COMMERCIAL MINING ON JUN 11 - PTI
The Centre is likely to launch the process of coal blocks auction under commercial mining on June 11 and around 50 mines are expected to go under t ...


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