India’s Oil Demand Recovery Threatened By New Restrictions ...Middle East

As the summer months draw nearer, usually meaning a rise in oil demand for India, increased pandemic restrictions threaten this trend in the world’s third-largest oil importer. According to a Bloomberg article, fuel consumption in India remains lower than it was before the pandemic, with oil demand in 2020 dropping to its lowest level since 2007. As Mumbai and the larger Maharashtra state enforce another round of restrictions, including a city-wide curfew during weekends, the reduction in traffic suggests a likely dip in the demand for fuel…

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