Buy bitumen in India
Buy bitumen in India
Buy bitumen in India is an important issue in the world. Therefore, we will talk about the bitumen market in India and the variables that affect the prices. At the beginning of yesterday’s trading, however, the market had a downward trend. The US Petroleum Institute (API)
reported on Tuesday that US crude inventories rose by about 4.17 million barrels last week from last week’s report,
according to those familiar with the country’s crude inventories. Of course, this growth in funds far exceeds the expectations of market analysts.
The future trend of the market
In fact, the figures released by the American Petroleum Institute mean they have more than
doubled their stockpiles beyond the forecast of experts and market participants. Moreover, a Reuters poll of oil inventories found analysts expected growth of 1.7 million barrels in the past week. It’s worth noting that it will release the official statistics of oil inventories
in the United States on Thursday morning US Energy Information Administration. Oil hit more than $42 a barrel on Monday following the news of the success of the COVID-19 vaccine,
but prices have receded somewhat since the market struggled with demand. The increasing prevalence of COVID-19 disease
in Europe and the United States is rapidly reducing fuel consumption in these areas. In contrast to Asia, where China’s economic recovery is speeding up and refineries are buying more oil.
Optimism for the future of the market and buy bitumen in India
The oil market, despite the difficult days it has gone through, also promises better days on the horizon. Although the growth of corona disease in the Western Hemisphere has
sped up and severely threatened the short-term demand outlook,
the global oil market continues to experience long-term effects and optimism, according to Oil Price. The success of the two pharmaceutical companies Pfizer and Moderna
depends on the production of an effective vaccine for corona disease.
Many believe that the epidemic will end by next year. This is a significant positive for the oil market,
as the worst oil crisis in history was because of the drop in demand due to the outbreak of COVID-19. In addition, the extension of the OPEC Plus agreement and the suspension of production increases at the beginning of 2021,
which is to last at least 3 months, have also reduced concerns about over-pumping. On the other hand, the record-breaking demand for oil in Chinese industries
and refineries is also promising. Because it was China that pushed oil demand to top levels by controlling corona disease.
This will be possible by controlling the disease in other parts of the world,
and oil could reach its peak in the coming years, as Adnok believes. Even considering the process of phase change in energy and the transition from fossil fuels to the greening of the economy,
oil could have better days ahead in the coming years if it controls the trend of corona disease.
