India’s oil demand has rebounded from levels witnessed during the lockdown, prompting refiners to raise throughput, but consumption will struggle to recover to year-ago levels in coming months and keep overall demand numbers for 2020 in the red, analysts told.
With the economy struggling and COVID-19 cases rising, domestic demand for petrol and diesel – they together make up for the bulk of the oil products basket – will remain subdued for the rest of the year. This means that India may have a problem of plenty at hand as far as oil products are concerned, forcing its refiners to seek overseas markets…
