Oil demand recovery in Covid-ravaged India tough to predict3 min read 27 May 2021, 06:22 PM IST
India’s economic activity showed signs of cooling in April due to the state-wide lockdowns and data from this month confirmed the softening trend. A basket of high-frequency, alternative and market indicators such as retail activity and road congestion pointed to weakness in the week to May 16
Indian energy demand is taking a big hit as Covid-19 runs rampant across the country. But uncertainty around when the virus wave will subside and the lack of a unified government response has left the oil industry in the dark as to how quickly consumption might pick up again.