Robust Demands Of Recycled Oil

After a couple of quiet weeks for the oil market, demand is raising from February 3rd.

Since the price of raw materials used for recycled oil production decreased in Iran, Indian importers expect a reduction in prices. However, due to the unpredictable situation of the USD and the possibility of Iran and the USA negotiations, no one expects a severe reduction in Iran’s market prices.

As mentioned in the previous Infinity Galaxy’s analysis report on OPEC+ decision to cut the supply and EIA report on Brent Crude prices rising above $ 60, the market is currently waiting for large volumes of orders. However, the instability and unpredictability of the market situation have confused buyers and sellers.

Currently, after weeks of confusion, the demand volume of the market shows importers and exporters have decided to trade. Although, they are still taking steps cautiously.

Due to market fluctuations and ambiguities, different prices can be found in the market. Our advice to importers and buyers is that besides attempting to find the lowest prices, review the authenticity of the offer, the possibility of supply and delivery time with their suppliers.