EIA UPDATE – IMPORTS RISE, PRODUCT DEMAND TOO AND COVID HITS ASIAN DEMAND
Hello everyone! We are back with another exciting week where Mark digs deeper into data and unearth interesting insights. This week EIA update takes a look at rising imports and how product demand may rise and finally the impact of COVID19 on the Asian demand.
Segment 1: EIA figures this week was almost neutral (small inventory build) as imports have risen.
Segment 2: Product demand may slowly catch up and rise.
Segment 3: India, third largest consumer of oil, is experiencing apocalyptic rise in cases with possibilities of this spilling over to other countries too.