New Steel Drum Bitumen Price July 2021
| Months | 1st Week | 2nd Week | 3rd Week | 4th Week |
| July |
355-365 | 355-362 | 355-364 | 355-365 |
Bulk Bitumen Price July 2021
| Months | 1st Week | 2nd Week | 3rd Week | 4th Week |
| July | 283-290 | 285-291 | 284-290 | 285-290 |
Pasargad Embossed Bitumen Price July 2021
| Months | 1st Week | 2nd Week | 3rd Week | 4th Week |
| July | 365-375 | 363-375 | 365-374 | 365-373 |
Jey Embossed Bitumen Price July 2021
| Months | 1st Week | 2nd Week | 3rd Week | 4th Week |
| July | 365-373 | 365-374 | 364-375 | 364-375 |
Bitumen price July 2021
Average oil demand is likely to increase and affect significantly bitumen price
July 2021 compared to 2020, but this increase may also be the only good news
for oil companies in terms of consumption, as demand is about to be much
lower than pre-epidemic levels, which means the happy days
are drawing to a close.
Oil and bitumen price July 2021
The International Energy Agency (IEA) picture in 2021 that consumption
is indicative of an increase of approximately 6 million barrels per day. However, the point is that despite this increase, the average daily consumption will
be only 96.9 million barrels per day, which is still much lower than the
record of 100 million barrels per day that existed before the outbreak
of the Corona epidemic in 2019. Forecasts before the Corona crisis showed a
daily growth of one million barrels in demand during 2020 and 2021. This
means that consumption in 2021 under the new market rules is about 5
million barrels per day less than the forecast for this year before the
corona outbreak. In fact, in 2009, as the global financial crisis intensified,
demand for crude oil fell by just over one million barrels a day,
signaling the deep impact of the Covid-19 disease on the oil industry.
Demands and the bitumen price July 2021
It’s also important to mention that demand will fall in three major areas. The biggest reduction is for jet fuel, as air travel is to remain sluggish and
semi-closed, consuming something like 2.5 million barrels per day
less than pre-epidemic levels. Demand for gasoline and diesel will
certainly be better, but it is about to be limited in the first half of
2021 and until vaccines become more widely available.
According to the International Energy Agency, the consumption of these
two fuels will return to 97% to 99% of the pre-epidemic level. “It may
not differ significantly from the current situation for the first two or
three months of 2021,” said Amrita Sen in EnergyAspects. Of course,
the major blow to demand will be due to the economic downturn
caused by the effects of the Covid crisis, as the demand of
manufacturing companies will be reduced in this way and
we will display fewer goods by shipping.
Supply chain and the bitumen price July 2021
Discussions about the prospect of oil supply are more complex than
the demand side. Falling prices in 2020 have pushed large
investments out of the industry, and practical issues such as discussing
the implementation of social distancing on oilrigs have delayed many
drilling projects. Perhaps the most important part of the current
supply chain is the US shale industry, which has transformed the oil and
gas sector over the past five years, and its growth has largely shaken
OPEC’s position in the global oil market. Nevertheless, data released
by the United States Energy Information Administration (EIA) shows that
this relatively expensive source of supply is due to falling oil prices as
US crude oil production fell from 12.3 million barrels per
day in 2019 to 11.3 million barrels per day.
