- Oil demand buckles in India as COVID surge wreaks havoc on fuels consumption (Bloomberg)
- Combined consumption of diesel and gasoline is set to plunge by as much as 20% from March levels
- FGE sees gasoline demand declining by 100 MBbl/d this month and 170 MBbl/d in May, while diesel is expected to see declines of 220 MBbl/d and 400 MBbl/d, respectively
- OPEC+ is expected to hold a full ministerial meeting on April 28
- OPEC is encouraging its members to engage with the U.S. administration over its NOPEC bill that threatens U.S. interests abroad
- AEGIS notes that the demand outlook for 2Q2021 has weakened since the groups last meeting, as India has imposed lockdowns in certain regions, and an outright national lockdown may follow
- Schlumberger sees "robust" oil growth over the next few years
- Chief Executive Officer Olivier Le Peuch sees international revenue growing by double digits in 2H2021 and expects 80% of its revenue to come from overseas
- The executive also said that he expects the international market to experience multiple years of growth