oil demand | GUPC

Oil demand to touch new high in FY27 on rising use of key fuels

Oil & Gas‚ Oil and Gas Industry | intent | February 16, 2026 | Comment off

India’s consumption of refined petroleum fuels and products is expected to hit another fresh high in the upcoming financial year 2026-27 (FY27) on the back of steady growth in energy use across various sectors of the economy, as per latest government estimates. According to projections by the Petroleum Planning & Analysis Cell (PPAC) of the Ministry of Petroleum and Natural Gas (MoPNG), the country’s consumption of petroleum products seen a proxy for crude oil demand in FY27 is seen rising 2.8% over the revised estimate for FY26 to 250.8 million tonnes.

Gazprom Neft Sees Oil Demand in Asia Growing in the Autumn

Oil & Gas‚ Oil and Gas Industry | intent | September 19, 2025 | Comment off

Asia’s oil demand is growing in the autumn, too, whereas major importers like China keep stockpiling crude, so OPEC+ was right to continue boosting supply, Alexander Dyukov, chief executive at Russian oil producer Gazprom Neft, said on Thursday.

China Oil Demand Picks Up in July

Oil & Gas‚ Oil and Gas Industry | intent | August 18, 2025 | Comment off

Refinery rates went up to 14.85 million barrels daily last month, the report also said, which was an 8.9% increase from July 2024, but at the same time, it was a 2% decline from June 2025. The utilization rate at Chinese refineries, however, rose both on an annual and on a monthly basis, reinforcing the perception of an improvement in demand.

Goldman Raises Oil Demand Outlook

Oil & Gas‚ Oil and Gas Industry | intent | May 19, 2025 | Comment off

Goldman Sachs analysts have revised their outlook for global oil demand upwards, now expecting growth of 600,000 barrels daily this year and 400,000 barrels daily in 2026.

The bank, however, maintained its oil price forecast at $60 per barrel of Brent crude and $56 per barrel of West Texas Intermediate for this year, Reuters reported, citing a new note. Brent crude was trading at over $65 per barrel at the time of writing, and WTI was trading at over $62.

OPEC projects lower oil demand as Nigeria’s production stagnates at 1.4mbpd

Oil & Gas‚ Oil and Gas Industry | intent | November 13, 2024 | Comment off

The Organisation of Petroleum Exporting Countries (OPEC) yesterday lowered the demand forecast for crude oil amid tumbling prices as Nigeria pumped 1.4 million barrels of oil per day in October.

Asian oil demand growth in focus as OPEC+ move carves out supply roadmap

Oil & Gas‚ Oil and Gas Industry | intent | March 11, 2024 | Comment off

Non-OPEC production growth set to outstrip OPEC output growth: S&P Global

Non-OPEC+ oil finding new markets traditionally controlled by the Middle East

South Korea, Taiwan appetite for US crude robust; India’s Russian crude buying intact

Kuwait Sees Solid Oil Demand In A Fairly Balanced Market

Oil & Gas‚ Oil and Gas Industry | intent | March 8, 2024 | Comment off

Kuwait Petroleum Corporation CEO Al-Sabah: Global oil demand looks robust.
Al-Sabah: U.S. shale production has helped meet part of the recent growth in world oil consumption.
As part of the voluntary OPEC+ cuts, Kuwait has pledged to voluntarily reduce its crude oil production by 135,000 bpd.

OPEC Leaves Forecast for 2024 Oil-Demand Growth Unchanged

Oil & Gas | intent | January 18, 2024 | Comment off

The Organization of the Petroleum Exporting Countries (OPEC) on Wednesday stuck to its forecast for relatively strong growth in global oil demand in 2024 and said 2025 will see a robust increase in oil use, led by China and the Middle East.

OPEC, in a monthly report, said world oil demand will rise by 1.85 million barrels per day in 2025. For 2024, OPEC saw demand growth of 2.25 million bpd, unchanged from last month.

Aramco CEO expects oil demand to rise in 2024

Uncategorized | intent | January 18, 2024 | Comment off

RIYADH — Saudi Aramco President and CEO Amin Nasser expected global demand for oil to rise by 1.5 million barrels per day (bpd) to 104 million bpd in 2024.

OPEC Sees Strong Oil Demand Growth in 2025

Oil & Gas‚ Oil and Gas Industry | intent | January 18, 2024 | Comment off

Higher global economic growth and solid activity in China will see robust world oil demand growth of 1.8 million barrels per day (bpd) in 2025, OPEC said on Wednesday in its first outlook into next year’s demand levels.

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