As the summer months draw nearer, usually meaning a rise in oil demand for India, increased pandemic restrictions threaten this trend in the world’s third-largest oil importer. According to a Bloomberg article , fuel consumption in India remains lower than it was before the pandemic, with oil demand in 2020 dropping to its lowest level since 2007. As Mumbai and the larger Maharashtra state enforce another round of restrictions, including a city-wide curfew during weekends, the reduction in traffic suggests a likely dip in the demand for fuel in the coming weeks. Diesel consumption, used for trucks, farms, and factories across the country, accounts for 40 percent of India’s oil product sales. In March, diesel consumption was down 3 percent from 2019 levels and could drop significantly further if restrictions continue. The industry consultant FGE believes diesel demand will average 1.72 million bpd in the first six months of […]