Trends - oil demand - Business Recorder

oil demand

Despite uncertainties, OPEC sticks to forecast of oil demand surge in second half

Keeps 2021 oil demand growth forecast at 5.95 mln bpd.
But OECD demand not expected to fully recover from 2020 collapse.
OPEC May output rises by 390,000 bpd as Saudi, Iran pump more.
Says OPEC+ has substantially led the way towards rebalancing.

Published 10 Jun, 2021 06:28pm

Markets

Brent oil benchmark hits 2-year high, WTI highest since 2018

Top US diplomat sees hundreds of sanctions on Iran to remain.
API shows drawdown in US crude stocks; EIA data due later Wed.
Oil demand expected to grow in H2 as lockdowns ease.

Published 09 Jun, 2021 06:28pm

BR Research

Oil rebalancing

After stabilizing, oil seems to be entering a stronger phase or maybe its learning to live with the pandemic; not...

Published 01 Jun, 2021 07:35am

Markets

OPEC oil output rise in May limited by Nigeria, Iran losses: survey

OPEC May output rises 280,000 bpd from April.
Compliance with OPEC+ cut pledges slips to 122%.
Saudi posts OPEC's biggest output gain.

Published 31 May, 2021 06:29pm

Markets

Iran's oil exports, on rising trend, drop in May as China buying ebbs

Tehran's oil exports have risen since late 2020, despite US sanctions toughened under US President Donald Trump. Joe Biden's administration took office in January pledging to rejoin Iran's nuclear deal with world powers, which Trump had quit.
"China and Iran are carrying out normal economic and trade cooperation, including energy, within the framework of international law, and the relevant cooperation is reasonable and legitimate," the spokesperson said.

Published 19 May, 2021 05:45pm

Markets

Oil prices set for weekly gain despite India virus surge

China's exports and services sector expand in April.
April crude imports down 0.2% year on year in China.

Published 07 May, 2021 06:26pm

Business & Finance

Brazil's Petrobras lowers fuel prices even as oil rises internationally

The move would be the first under the management of General Joaquim Silva e Luna, who replaced Roberto Castello Branco as the company's top executive after the government apparently disagreed with the state-run company's fuel pricing policy.
In a note on Friday, brokerage Ativa Investimentos said its model indicated a potential 13% rise in gasoline prices, driven by the increasing international oil prices.

Published 30 Apr, 2021 08:32pm

Markets

OPEC raises 2021 oil demand growth forecast on hopes virus impact wanes

Demand will rise by 5.95 million barrels per day (bpd) in 2021, or 6.6%, the Organization of the Petroleum Exporting Countries forecast in its monthly report, up 70,000 bpd from last month.
OPEC raised its forecast of 2021 world economic growth to 5.4% from 5.1%, assuming the impact of the pandemic is "largely contained" by the beginning of the second half of the year.

Published 13 Apr, 2021 05:34pm

Markets

Oil rises nearly 2pc on US vaccine rollout, Middle East tension

US at 22% vaccinated; other countries further behind.
Yemen's Houthis say they attacked Saudi Aramco facilities.
Crude prices remain rangebound.

Published 12 Apr, 2021 09:46pm

Business & Finance

BP expects to hit $35 billion net debt target in first quarter

The company, which had a debt pile of $39 billion at the end of 2020, had earlier expected to reduce its debt to $35 billion around the fourth quarter of 2021 or first quarter of 2022.
The London-based company said on Tuesday it expects sale proceeds in 2021 to be at the top end of its existing $4 billion to $6 billion range.

Published 06 Apr, 2021 12:11pm

Markets

Oil rises as OPEC+ decides on production policy

OPEC+ reaches preliminary deal to raise output from May –sources.
OPEC+ still has deep production cuts in place.
New pandemic waves creates uncertain demand outlook.
Euro zone factory activity soared in March.

Published 01 Apr, 2021 09:04pm

Markets

Oil drops as demand concerns outweigh Suez Canal disruptions

Suez Canal suspends traffic, efforts to dislodge ship continue.
Prices fall as demand concerns dominate.
Big gains unlikely until OPEC meeting on April 1 – analyst.

Published 25 Mar, 2021 05:19pm

Markets

Oil demand to reach record by 2026: IEA

As people get vaccinated and restrictions are lifted, demand will return to its 2019 level by 2023, according to the report.

Published 17 Mar, 2021 06:00pm

Markets

OPEC sees most of 2021 oil demand recovery in H2 as COVID-19 impact lingers

"Total oil demand is foreseen to reach 96.3 million bpd with most consumption appearing in the second half," OPEC said in the report.
"This year's demand growth will not be able to compensate for the major shortfall from 2020 as mobility is forecast to remain impaired throughout 2021."

Published 11 Mar, 2021 07:21pm

Gainers
Losers
Leaders

Stock	Price
Pervez Ahmed Co / Feb 6 Pervez Ahmed Consultancy Services Ltd.(PASL)	0.82 ▲ 0.16 (24.24%)
HBL Invest Fund / Feb 6 HBL Investment Fund(HIFA)	1.99 ▲ 0.34 (20.61%)
Oilboy Energy / Feb 6 Oilboy Energy Limited(OBOY)	7 ▲ 1.00 (16.67%)
Pak Gen.Ins. / Feb 6 The Pakistan General Insurance Co. Ltd.(PKGI)	5.65 ▲ 0.67 (13.45%)
P.I.A.C.(A) / Feb 6 Pakistan International Airlines Corp(PIAA)	4.10 ▲ 0.36 (9.63%)
Sui South Gas / Feb 6 Sui Southern Gas Company Limited(SSGC)	11.44 ▲ 0.99 (9.47%)
MetaTech. / Feb 6 MetaTech Health Limited(META)	7.14 ▲ 0.60 (9.17%)
Orient Rental / Feb 6 Orient Rental Mod(ORM)	6.55 ▲ 0.50 (8.26%)
Chashma / Feb 6 Chashma Sugar Mills Limited(CHAS)	64.68 ▲ 4.51 (7.50%)
Din Tex. / Feb 6 Din Textile Mills Limited(DINT)	102.63 ▲ 7.16 (7.50%)

Stock	Price
First Elite Cap.Mod / Feb 6 First Elite Capital Modaraba(FECM)	3 ▲ -0.32 (-9.64%)
Pak Gulf Leasing / Feb 6 Pak-Gulf Leasing Company Limited(PGLC)	6.03 ▲ -0.52 (-7.94%)
Shahtaj Sugar / Feb 6 Shahtaj Sugar Mills Limited(SHJS)	45.53 ▲ -3.69 (-7.50%)
AL-Noor Sugar / Feb 6 Al-Noor Sugar Mills Limited(ALNRS)	57.35 ▲ -4.64 (-7.49%)
Crescent Fib. / Feb 6 Crescent Fibres Limited(CFL)	52.73 ▲ -4.27 (-7.49%)
MCB-ARIF Habib / Feb 6 MCB-Arif Habib Savings and Invest(MCBAH)	21.97 ▲ -1.78 (-7.49%)
Sunrays Textile / Feb 6 Sunrays Textile Mills Limited(SUTM)	137.74 ▲ -11.16 (-7.49%)
Pak Leather / Feb 6 Pak Leather Crafts Limited(PAKL)	18.21 ▲ -1.47 (-7.47%)
Quetta Textile / Feb 6 Quetta Textile Mills Limited(QUET)	14.36 ▲ -1.16 (-7.47%)
Ellcot Spinning / Feb 6 Ellcot Spinning Mills Limited(ELSM)	121 ▲ -8.98 (-6.91%)

Stock	Volume
Pak Petroleum / Feb 6 Pakistan Petroleum Limited(PPL)	21,823,478 ▼ 5.59
Sui North Gas / Feb 6 Sui Northern Gas Pipelines Limited(SNGP)	13,436,569 ▼ 3.03
Oil & Gas Dev. / Feb 6 Oil & Gas Development Company Limited(OGDC)	10,544,849 ▼ 6.44
K-Electric Ltd. / Feb 6 K-Electric Limited(KEL)	8,976,715 ▼ 0.10
Hub Power Co. / Feb 6 The Hub Power Company Limited(HUBC)	7,912,174 ▼ 0.97
Sui South Gas / Feb 6 Sui Southern Gas Company Limited(SSGC)	7,743,500 ▼ 0.99
Cnergyico PK / Feb 6 Cnergyico PK Limited(CNERGY)	7,490,206 ▼ 0.06
WorldCall Telecom / Feb 6 Worldcall Telecom Limited(WTL)	5,875,506 ▼ 0.02
Dewan Motors / Feb 6 Dewan Farooque Motors Limited(DFML)	5,698,000 ▼ 0.17
P.T.C.L. / Feb 6 Pakistan Telecommunication Company Ltd(PTC)	5,530,500 ▼ 0.39

Markets →

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Feb 6	277.40
USD PKR Interbank Buying / Feb 6	275.40
USD to Japanese Yen / Feb 6	132.75
USD to Swiss Franc / Feb 6	0.93
Pound Sterling to USD / Feb 6	1.20
Euro to USD / Feb 6	1.07
UK LIBOR % / Feb 3	4.30

Stock	Volume
S&P 500 / Feb 6	4102.30
India Sensex / Feb 6	60506.90
Tokyo Nikkei / Feb 6	27693.65
Nasdaq / Feb 6	11876.41
Hang Seng / Feb 6	21349.17
FTSE 100 / Feb 6	7811.64
Dow Jones / Feb 6	33736.77
Germany DAX 30 / Feb 6	15308.79
France CAC40 / Feb 6	7110.62

Item	Value
Karachi Cotton PKR/37.32 KG / Feb 3	22235
Gold 10 Grams PKR / Feb 3	208500
Crude Oil USD/Barrel / Feb 6	72.87
Gold Spot USD/Ounce / Feb 6	1868.15
Cotton US¢/pound / Feb 6	84.80

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