India Indian Oil Demand Outlook Darkening, As Economy Limps Along

摘要

We have made a further downward revision to our India refned fuels demand forecast for 2020, from -9.4% to -11.5%, in line with further deterioration in the country’s economic outlook. Our economists now forecast real GDP to contract by 8.6% in FY2020/21, down from -4.5% previously.