Companies and suppliers continue to deal with hurdles to meet increasing demand despite increasing prices.
Wall Street Pump and Valve Industry Watch
Factories waiting longer for supplies.
Renewed concerns over COVID-19 took a toll on hiring in August.
Despite volatility in global oil markets, U.S. crude oil exports hit a record high in 2020 and remain high in 2021. High oil prices have contributed to steady crude oil exports.
Renewable energy consumption increased to a record high of 11.6 quads.
The Employment Index experienced the largest drop of the month falling to 50.9%.
Pump market analysis shows Backlog of Orders Index surged to a record high.
The employment index was up 5 points from last month.
Wall Street pump & valve industry watch for April 2021
Global demand for petroleum products fell significantly in 2020.
Fabricated metal products, chemical products, computer and electronic products, transportation equipment, and food, beverage and tobacco products registered growth in November.
The Jordan, Knauff & Company (JKC) Valve Stock Index down 17.3 percent over the last 12 months.
Month-over-month global consumption of crude oil rose by 1 million barrels per day (b/d) during August and September.
Over the past two months, payrolls in the U.S. have rebounded 7.5 million, as businesses reopened.
Suppliers' deliveries to manufacturers was slower in May due to plant shutdowns, transportation challenges and importing difficulties.
Gross domestic product in the U.S. declines at an annualized rate of 4.8 percent in the first quarter of the year.
EIA expects U.S. crude oil production to average 13.2 million barrels per day in 2020.