Virendra Chauhan

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Virendra Chauhan holds a PhD in Chemical Physics from Imperial College, with a focus on renewable energy. Following the completion of his studies, Virendra spent 18 months on the European Oil & Gas Equity Research team at Nomura International, before joining Energy Aspects in 2012. Virendra’s work at Energy Aspects centres on crude markets. He analyses global supply demand fundamentals, with a particular emphasis on the upstream and shale. He also examines the impact of US shale on oil markets, trade flows and benchmarks, producing analysis that is regularly referenced by leading media outlets. His research covers specialist areas such as the economics of shale oil for independent US producers. More broadly, he reviews the potential for shale oil on a global scale, applying data-rich analysis to wider developments in the energy market.

Recent publications

  • | China oil data – May 2017

    Energy Aspects estimates that Chinese implied demand in May reached around 12 mb/d, higher y/y by a massive 0.7 mb/d (6.1%), from a low base last year. Actual demand growth was likely lower at 0.3-0.4 mb/d y/y, as stocks seem to have built counter-seasonally due to limited product export quotas. Im..

    5 days ago - Read more

  • | Fundamentals

    Fundamentals is our monthly review of global oil data, this is the June 2017 edition. Our supply demand balances show a 0.3 mb/d draw in Q2 17, around 0.1 mb/d lower than our balances showed a month ago, mainly due to further upward revisions to our Libyan estimates. But this is down by 0.5 mb/d fr..

    5 days ago - Read more

  • | Norway oil data – May 2017

    Norwegian liquids production fell m/m by 0.13 mb/d in May—below 2 mb/d for the first time in eight months. Nevertheless, output was higher y/y by 20 thousand b/d. With few planned outages, and with loadings of the main Norwegian grades higher m/m by 90 thousand b/d, the decline was likely a result o..

    1 week ago - Read more

  • | India oil data – May 2017

    Indian oil demand grew y/y by 0.23 mb/d in May, to a record 4.48 mb/d. The strength was broad-based, spanning gasoline, diesel, jet, while LPG demand recovered. A strong economic backdrop, together with the implementation of the goods and services tax (GST) from 1 July, should continue to provide su..

    1 week ago - Read more

  • | Key agency forecasts

    Over the past week the key agency forecasts have been published. The EIA STEO last Wednesday, OPEC published MOMR yesterday and the IEA published OMR this morning. The key agency reports for June held demand growth estimates largely steady on the month, with the IEA and OPEC pegging 2017 demand gr..

    2 weeks ago - Read more