Share of Canada, U S in India s January oil imports surges to record high: trade msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.
A deep freeze in Texas that has brought power outages and shut refineries and pipelines will have only a small and transitory impact on the global oil market, Goldman Sachs said in a note.
COVID-19 Impact: Oil imports suggest China & India are on a very different path to recovery
The challenge facing India is its vast population and fractured politics that will make it difficult to roll out an effective country-wide vaccination program. It remains to be seen if its refiners have reason to regret its record-high crude imports for January. Yaw Yan Chong
Source: Reuters
Asian powerhouses China and India have fared very differently against COVID-19 since the pandemic spread across the world, with China recovering from last April, while India remained mired in the outbreak until December, as reflected by their respective demand for crude oil.
China appears to have drawn on its crude stockpiles in December, the second time in three months, as the world’s biggest oil importer uses some of the massive surplus it built up last year. China processed 1.24 million barrels per day (bpd) more crude oil in its refineries in December than was available from imports .
China appears to have drawn on its crude stockpiles in December, the second time in three months, as the world's biggest oil importer uses some of the massive surplus it built up last year.