The coronavirus outbreak has restricted travel and slowed down industrial activity in India to the point of reducing overall fuel demand in the country by 10-11 percent in the first two weeks of March, Indian Oil Corp, the biggest domestic refiner and fuel retailer, says. “The petroleum industry is witnessing the impact of Covid-19 on sales of all petroleum products,” state-held Indian Oil Corp told local outlet Economic Times in an emailed reply to questions. Total demand for all kinds of liquid fuels in India – one of the key growth drivers of global oil demand alongside China – was down by 10 to 11 percent for the first fourteen days of March, the company told Economic Times. Stopped flights, travel restrictions, and travel advisories have led to a double-digit drop in demand for gasoline, diesel, shipping fuel, and jet fuel, according to the largest Indian oil refiner. Before […]