as if Bloomberg News On 9/9/2021
(Bloomberg) – Some of the world’s largest economies are seeing fuel consumption shifting even higher than pre-epidemic levels, as falling levels of CVD-19 infection could lead to recovery.
According to the CIA Energy, the world’s largest consumer of oil in China will increase by 13% in the next quarter of the same period in 2019 before the outbreak. Indian oil sales rebounded last month, but US oil consumption soared. Europe also had a very good August demand for gasoline in 10 years, IHS Markets.
Consumer growth in major economies is pushing up oil prices, which have risen by 40% this year. Against this background, OPEC + decided to reserve raw materials earlier this month, citing strong balances towards the end of the year.
“Asia’s demand for oil is very high and we will see a soft recovery in the coming months,” said a SIA analyst in Beijing. He said China’s total oil consumption is expected to jump more than 20 percent next year, with more than 20 percent next year.
While people are on the road after months of locking, motor oil recovery is improving, but the condition of other fuel products is not good. Jet fuel consumption is still declining due to international air travel shortages. Although CIA energy will increase China’s demand for oil by 4% in 2019, India’s use of diesel has declined.
Freight and construction work is common in India due to the rains from June to September. Between the harvest and the holidays, before the end of the year, the country’s most popular oil will be measured by the demand for diesel.
“Oil sales have not crossed the pre-COV level, and diesel will reach there in the next two to three months,” said Madhav Vadia, chairman of India’s largest oil refinery.
Industrial Adviser FJA, head of South Asian Oil, said that while Indian companies are struggling to cope with over-the-top diesel production, Indian processors will have “limited reverse potential” this month. By the end of the year, more than 5 million barrels a day could have risen, he said.
China’s run rates have been boosted in 11 months by the state-run Sinopec, according to local consultant SCI99. However, in Shandong Province, private government-controlled activities accounted for more than 70% of all conflicts in the sector.
While some of Asia’s largest economies report tens of thousands of viral infections every day, there is still some energy demand even as the region rushes to vaccinate its people.
“Rehabilitation risk is a threat in our view,” said Power McKenzie Limited, an energy consulting firm. It’s over, but the side effects still remain.