Oil supplies via Druzhba in April 2021 decreased by 20.2%, to 2.832 mln tonnes.
On a month-over-month basis, oil sales jumped 13pc from 1.49m tonnes in March.
Sell in May and go away is a popular theme when it comes to the stock market.
Natural gas and oil will miss out on increased investments set to pour into petrochemicals and power plants in the Middle East and North Africa region over the next five years as decision-makers become “more cautious to new project commitments in an era of gas overcapacity”, Arab Petroleum Investments Corp. said May 4.
Oil held gains above $64 a barrel on optimism that the resumption of economic activity in the U.S. and Europe will underpin demand.
India’s unprecedented COVID-19 crisis is set to take a toll on oil demand in the April-June quarter as refiners look to scale back throughput and crude imports on the back of weakening transport demand and disruption to industrial activity, the head of the Federation of Indian Petroleum Industry told S&P Global Platts.
The net profits of exactly half of the 50 groups decreased and nine were in the red in 2020.
Commodities prices jumped to new highs as signs of economic recovery raised hopes of renewed energy demand and a weaker dollar stoked investor appetite for precious metals.
Softening North Asian heating demand ahead of summer and healthy supply to Asia from the US and Middle East in June have flattened the prompt month market structure and could soon move it into contango for the first time in seven months, trade sources said May 3.
It’s important to note that this “peak” is actually more of a plateau.