US President Joe Biden said that the country's fuel supply will take time to normalise as the operator of a key fuel pipeline has restarted operations after a cybersecurity attack.
India's fuel demand slumped 9.4% in April when compared to the preceding month as lockdowns clamped in several states to curb the second wave of coronavirus sweeping the nation pummelled demand
Oil prices edged up in early Asian trade after a 1% dip in the previous session, as global economic recovery and easing travel curbs in the United States and Europe buoyed the fuel demand outlook
India's second wave of coronavirus infections and the resultant city and state-specific restrictions may shave-off about 20-25 per cent of auto fuel demand in April, says consultancy Wood Mackenzie
The second wave of coronavirus sweeping the nation has pummelled fuel sales in April as local restrictions clamped to curb the spread of inflection stifled demand, preliminary data showed.
In Japan, the world's fourth-largest oil buyer, a third state of emergency in Tokyo, Osaka and two other prefectures began on Sunday
India has repeatedly shattered records for infections and deaths as the virus sweeps through the nation, stoking fears that the central government may be forced to implement another national lockdown
India, also the world's third-largest oil user, on Wednesday reported another record increase in the daily death toll from Covid-19
Motor fuel demand rose to 88,380 tons per day last month, the highest level since November last year, according to official data.
Oil prices climb on favourable outlook for United States fuel demand
First recorded decline in overall consumption, primarily attributed to Covid-19 lockdowns
Prices also dropped as fuel demand in Europe remained weak after countries renewed lockdowns to curb a new wave of coronavirus infections.
Brent crude was up 31 cents, or 0.5%, at $63.59 a barrel
The world is likely to see peak demand for petrol by the late 2020s and for diesel by 2035, a senior petroleum ministry official said Thursday
Demand for diesel and petrol seen rising 13%, modest 5% increase in LPG
A reflating economy will drive petrol and diesel demand, according to Oil Ministry's projections
DGH, the government custodian of upstream oil and gas production in the country, said production levels are likely to be higher in the 2021 calendar year
There is a pressure on fuel price due to imbalance in demand and supply," Pradhan said while speaking to media in Betul
While LPG use rose as more people cooked at home due to tighter coronavirus restrictions, India's full-year consumption of fuel never fully recovered
Oil prices fell on renewed concerns about global fuel demand amid strict coronavirus lockdowns in Europe and new movement restrictions in China, the world's second-largest oil user