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Tuesday, December 24, 2024 | 06:46 PM ISTEN Hindi

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India's oil industry struggles to predict demand recovery in pandemic

Diesel and gasoline, which account for more than half of oil consumption in India, are bearing the brunt of lockdowns.

Sales of fuels at the three biggest retailers are about a third lower so far in May compared with pre-virus levels two years earlier.(Photo: Bloomberg)
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Sales of fuels at the three biggest retailers are about a third lower so far in May compared with pre-virus levels two years earlier. (Photo: Bloomberg)

Saket Sundria and Debjit Chakraborty | Bloomberg
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.

The demand destruction over the last couple of months has been less severe than last year, when the government imposed the world’s biggest national lockdown. However, the lack of a coordinated effort to shut down activity to halt the virus’s spread will likely lead to a longer, although less pronounced, economic

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