Indian sales grow, but at a slower pace

Crude prices remained range-bound for the end of this week, at around 69.5 $/b as the dollar eased due to improving prospects for European economies. The US stimulus package is expected to bring higher gasoline consumption in the US. High retail prices for Indian driver is starting to have an effect on the nation’s recovery, with lower-than-expected fuel sales in February. The OPEC monthly report released yesterday showed an improved demand in 2021, balancing a rise in Russian supplies.