Oil Demand Plunges as India Goes Into Lockdown

摘要

India’s demand for refined fuel products has plunged with lockdowns in major cities such as New Delhi and Mumbai, the closure of the rail network and a halt on overseas flights to try to slow the spread of the coronavirus (IOD Mar.13’20). The country is the world’s second-most populous nation with some 1.3 billion people and also the world’s third-largest oil consumer, with demand running at around 5 million barrels per day before the pandemic struck.