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Latest Articles in oil demand

Oil Prices Surge On Last Day Of Roller-Coaster Month

U.S. oil and gas company ConocoPhillips said it would sharply reduce oil production in coming weeks, aiming to shut in 35% of its total output by June.

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Oil Rallies On Gulf Tensions And Output Cuts

Brent crude was up $1.78, or 8.7%, at $22.15 a barrel by 0940 GMT. U.S. crude rose $1.87, or 13.6%, at $15.65 a barrel.

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Indian Refineries Scale Back Output As Virus Chokes Demand

India's annual fuel demand grew 0.2% in 2019/20, its slowest in over two decades, dragged down by a hefty 17.8% decline in local consumption in March

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Oil Hits Lowest This Century As Coronavirus Crisis Hammers Demand

Brent crude, which fell 24% in the previous session, touched $15.98 a barrel, its lowest since June 1999.

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Oil Falls On Concerns Over Storage, Weakening Economies

Brent was down $1.62, or 5.8%, at $26.46 a barrel by 1211 GMT, while the front-month May WTI contract fell $6.22, or 34%, to $12.05.

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Aramco Offers Struggling Refiners Sweeter Terms For Crude

Saudi Arabia's national oil company has offered through unidentified Saudi banks, are also seen as part of the country's efforts to increase its market share

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Aramco Offers Struggling Refiners Sweeter Terms For Crude

Saudi Arabia's national oil company offered through unnamed Saudi banks in recent weeks, are also seen as part of the Kingdom's ongoing efforts to increase its market share

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OPEC, Russia Approve Biggest-Ever Oil Cut To Support Prices Amid Coronavirus Pandemic

Global oil demand is estimated to have fallen by around 30 million bpd as more than 3 billion people are locked down in their homes due to the outbreak.

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India's Fuel Demand Drops 11% In March As Coronavirus Hits Aviation, Transport

The country had consumed 19.5 million tonnes of petroleum products in March 2019, official data showed. Assuming consumption in two halves of the month was almost the same, as much as 10 million tonnes of fuel was consumed during the first fortnight of March 2019.

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Surging Demand To Move Flood Of Crude Oil Sends Smaller Tanker Rates Soaring

VLCC rates from the Middle East to China rose to about $265,000 per day on Monday, up from about $30,000 a day last week, broker data showed.

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Reliance Buys 2 Million Barrels Extra Saudi Oil For April Loading

The world's top oil exporter, has slashed its selling price for April and announced plans to raise output to a record 12.3 million barrels per day (bpd).

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Oil Slips Amid Demand Concern, Fears Over OPEC+ Deal For Deeper Output Cuts

Brent crude fell 48 cents, or 0.96%, to $49.51 per barrel by 0337 GMT, while U.S. West Texas Intermediate (WTI) was down 38 cents, or 0.83%, at $45.52 per barrel.

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India Sees 2020/21 Fuel Demand Growth Rebound

India's economy expanded at its slowest pace in more than six years in the last three months of 2019, and analysts predict further deceleration as the global coronavirus outbreak stifles growth in Asia's third-largest economy.

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Oil Rebounds Amid Broad Market Recovery; Investors Still Wary

Oil supplies out of Brazil have also been growing, with Petrobras having hit a new production record in the last quarter of 2019 at more than 3 million barrels of oil equivalent per day.

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IEA Lowers Its Growth Forecast In Oil Demand For 2018, 2019

The estimated growth in global demand has been reduced by 110,000 barrels per day for each of the two years

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