India’s oil consumption recovery was an unusually bright data in the first half of August, with China, Japan and Southeast Asia battling a resurgence of CVI with key locks and emergency measures to reduce demand.
India’s oil sales rose 3.7 percent in the first two weeks of August compared to the same period in pre-2019, Bloomberg reported on Tuesday, citing preliminary data from three of the country’s largest oil retailers. According to Bloomberg, diesel sales – the most widely used fuel in India – fell 8 percent compared to 2019, but were still higher than July 2021.
India’s demand for oil plummeted earlier this year, when March and May saw the world’s third-largest crude oil surge. Gasoline sales fell to one year in early May, and diesel consumption fell to a seven-month low in the first two weeks of May.
Most of India was under local locks when the covad revival began to overwhelm the health care system in April and May. He called for a nationwide shutdown, fearing that the central government would respond to economic growth.
India’s Kovid cases have been declining since the peak of May and restrictions have been adjusted.
In early August, analysts expected that after months of travel restrictions, India’s demand for extinction would be higher than in Pam.
India’s demand for petrol is recovering from V-shape as movement restrictions have been eased in many states.
According to the latest figures from August 1-15, oil demand has declined since July, but India remains one of the few countries in Asia that has positive data on oil demand, Bloomberg notes.
By Tsvetana Paraskova for Oilprice.com
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