Amid record daily new COVID cases and reinstated lockdowns in populous cities, Indian refiners have started to cut oil processing rates as fuel demand in the world’s third-largest crude importer has started to slip this month. India is now the second-worst affected country by the coronavirus after the United States and ahead of Brazil. India has been reporting record daily new cases in recent days. On Monday, the capital New Delhi announced a six-day lockdown as hospitals became overwhelmed with patients with severe COVID symptoms. Earlier this month, the biggest city and financial center, Mumbai, was also placed on lockdown until the end of this month, threatening the recovery of fuel demand in the country. In response to already weakening fuel demand, Mangalore Refinery and Petrochemicals has already reduced crude oil processing rates and could shut down one of its crude units, a source with knowledge of the matter […]