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COVID-19 - News digest as of 02.06.2021

June 02/2021

1. Indian state refiners reduce daily gasoline and gasoil sales by about fifth in May on COVID-19 lockdowns

MOSCOW (MRC) -- Indian state refiners� daily gasoline and gasoil sales declined by about a fifth in May from a month earlier as lockdowns to curb the second deadly wave of COVID-19 hit industrial activities and consumption, reported Reuters with reference to preliminary data. Daily gasoline sales in May fell by about 19% from April while diesel consumption, which is linked to industrial activity and accounts for over two-fifths of India�s fuel demand, fell by 19.9%, data compiled by state refiners showed. India�s factory activity growth slowed significantly in May as a rise in coronavirus cases whacked new orders and output, the Nikkei Manufacturing Purchasing Managers� Index compiled by IHS Markit showed.

2. Crude oil futures up in Asia as JCPOA talks drag and on concerns that stronger demand outpaces increases in

MOSCOW (MRC) -- Crude oil futures were higher during midmorning trade in Asia June 2 as negotiations over the Joint Comprehensive Plan of Action continued to dawdle, and as a rebound in oil demand in China, the US and Europe threatened to outpace impending increases in supply, reported S&P Global. At 10:50 am Singapore time (0250 GMT), the ICE August Brent contract was up 38 cents/b (0.54%) from the previous settle at USD70.63/b, while the NYMEX July light sweet crude contract was up 35 cents/b (0.52%) at USD68.07/b. Any resolution on the JCPOA remained far from certain as the fifth and final round of negotiations proceeded in Vienna, putting into question the prospect of increased Iranian oil hitting the market.
Author:Margaret Volkova
Tags:Europe, crude and gaz condensate, petrochemistry, COVID-19, India, Iran, China, USA.
Category:General News
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