VG 20 Bitumen
VG 20 Bitumen
Oil surge in 2021
Vg 20 Bitumen : In the third quarter of 2020, markets started to show signs of hope. Oil market got attentions and demand rose higher. Indian Oil Corp (IOC),
the largest fuel supplier in India, had high inventory gains due to the rising crude oil and petroleum products prices.
ICICI Securities declared that at the first of 2021 refineries may see falling margins
but they are higher than what the world witnessed at the end of October 2020.
“However, it would lead to large inventory gains, which would mean strong earnings growth for IOC even in the third quarter of 2020-21,” Indian Oil Corp said in a report. They estimate crude inventory gain at $0.8 per barrel in the 3rd quarter of 2021. We may witness oil-based raw materials to surge as well including gasoline and Vg 20 bitumen.
Gasoline foresight in India
Gasoline consumption is already at pre-pandemic levels which shows how fast is India recovering from severe lockdowns. With the upcoming festivals, all oil-products are supposed to surge, especially paving related materials such as bitumen and asphalt.
Chairman Shrikant Madhav Vaidya confirmed rising oil demand and related products, including jet fuel, in an interview with S&P Global Platts. Also, increasing car sales is another proving fact for future rising demand.
“Gasoline has already crossed the pre-COVID-19 levels, and diesel to is edging towards pre-COVID-19 levels. The festive season would give a further boost to the demand,” Vaidya told Platts during the India Energy Forum by CERAWeek- The annual energy conference running by IHS Markit in Houston, Texas.
Buy Vg 20 Bitumen
“With successive unlocks of the economy, market demand has been on the recovery path. The latest incoming numbers for September show faster-than-expected recovery,
This, obviously, is related to the green shoots visible in the latest round of economic data.
Our car and two-wheeler sales are up year-on-year, and rail freight traffic has also registered growth in September 2020 compared to September 2019.
Besides, agencies across the board see India rebounding in 2021-22 [April-March] and
covering up for most of the current year’s loss of gross domestic product,” Vaidya said.
Taking all the data based on the increasing demand for oil and petroleum products,
we perceived the roads and highways will be significantly noticeable in 2021.
Also , One popular paving materials in India is Vg 20 bitumen which represents similar specifications of 80/100 penetration bitumen.
The world expects a better supply and demand for g 20 bitumen, and generally, all bitumen grading in the upcoming year.
More details about grades :
