• 5 minutes Mike Shellman's musings on "Cartoon of the Week"
  • 11 minutes Permian already crested the productivity bell curve - downward now to Tier 2 geological locations
  • 17 minutes WTI @ 67.50, charts show $62.50 next
  • 19 hours The Discount Airline Model Is Coming for Europe’s Railways
  • 7 hours Pakistan: "Heart" Of Terrorism and Global Threat
  • 1 hour Desperate Call or... Erdogan Says Turkey Will Boycott U.S. Electronics
  • 3 hours Saudi Fund Wants to Take Tesla Private?
  • 3 hours Starvation, horror in Venezuela
  • 12 hours Venezuela set to raise gasoline prices to international levels.
  • 4 hours Renewable Energy Could "Effectively Be Free" by 2030
  • 6 hours Are Trump's steel tariffs working? Seems they are!
  • 2 days Batteries Could Be a Small Dotcom-Style Bubble
  • 2 days Newspaper Editorials Across U.S. Rebuke Trump For Attacks On Press
  • 2 days Don't Expect Too Much: Despite a Soaring Economy, America's Annual Pay Increase Isn't Budging
  • 1 day Scottish Battery ‘Breakthrough’ Could Charge Electric Cars In Seconds
  • 17 hours Corporations Are Buying More Renewables Than Ever
Alt Text

The One Oil Industry That Isn’t Under Threat

While plastic has been the…

Alt Text

Goldman: Trade War Won't Crash Oil Prices

In spite of the impact…

Alt Text

The Oil Bulls Are Back

Oil markets had a bullish…

Editorial Dept

Editorial Dept

More Info

Trending Discussions

Futures Are Signaling An Oil Market Rebound

Rig

Friday February 17, 2016

In the latest edition of the Numbers Report, we’ll take a look at some of the most interesting figures put out this week in the energy sector. Each week we’ll dig into some data and provide a bit of explanation on what drives the numbers.

Let’s take a look.

1. Currency problems cutting into India’s oil demand

(Click to enlarge)

- A plan to cut down corruption by taking high-valued notes out of circulation is backfiring on the Indian economy. Since most transactions are conducted in cash, the policy is disrupting economic activity.
- India’s oil demand plunged by 4.5 percent in January from a year earlier. Both gasoline and diesel consumption fell sharply.
- The issue is not merely a domestic problem, but it will have an effect on global markets. India imports 80 percent of the oil it needs and India is taking over from China as the world’s largest source of demand growth, a mantle it is expected to hold through 2040.
- Any slowdown in Indian demand could cut into global demand figures.

2. Futures market says supply deficit looming

(Click to enlarge)

- The oil futures market shows signs of ongoing concerns about oversupply, but only until the middle of this year.
- For the near-term, futures are in a state of contango, suggesting a glut will persist for several months. But the contango disappears on futures beyond mid-2017, a reflection…

To read the full article

Please sign up and become a premium OilPrice.com member to gain access to read the full article.

RegisterLogin

Trending Discussions





Oilprice - The No. 1 Source for Oil & Energy News