*Equinor Sees Oil Demand Peaking Two-Three Years Sooner Due to Virus*
Equinor sees global demand peaking at around 2027-2028, two years earlier than previously predicted because of the coronavirus pandemic sparking the interest in the roll-out of greener energies quicker than first through possible. 100 million barrels per day consumption – the levels seen before the pandemic – may return in 2025 with consumption set to fall to 88 million barrels per day in 2050. (Reuters)
*India’s Rekindled Appetite for West African Crude*
India has been on a buying spree for West African Crude this past month as refiners in the country regain appetite for the product, a demand for Gasoil, Gasoline, LPG and naphtha, which bodes well for the medium sweet crude. Over 20 million barrels have been bought for delivery over the next two months from Nigeria. (S&P Global Platts)
*Iraqi Oil Firm Issues Fuel Oil Export Tender*
Iraq’s State oil company Somo have issued a fuel oil export tender in a bid to claw back market share in the fuel oil market. The tender is a mini-term one that will export straight-run fuel oil on a ship to ship basis on the first quarter of next year. It is following a memo from the state-run oil company that states it is the only authorized entity to import and export crude and products in Iraq. (Ship and Bunker)