Oil & Gas Update - Rise In Covid-19 Cases To Delay Demand Recovery In Global Oil Market: ICICI Securities
An oil pumping unit, also known as a “nodding donkey” or pumping jack, operates at sunset at a drilling site. (Photographer: Andrey Rudakov/Bloomberg)

Oil & Gas Update - Rise In Covid-19 Cases To Delay Demand Recovery In Global Oil Market: ICICI Securities

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Securities Report

Top long-term trends in oil, gas and petrochemical sector -

1. Brent price over $60/barrel of oil as OPEC+ caps supply until demand recovers;

2. vaccine-driven demand recovery and refinery closures to boost global refinery utilisation and revive gross refining margin from multi-decade lows;

3. auto fuel net marketing margins to be Rs 22.5/litre in the medium term;

4. large capacity additions in China and its petrochemical product imports shrinking to cap margins;

5. increase in liquefied natural gas import capacity to cause overcapacity in Gujarat.

Click on the attachment to read the full report:

ICICI Securities Oil&Gas Sector Trends Apr21.pdf

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