Close Menu
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram
    SweetCrudeReportsSweetCrudeReports
    Subscribe
    • Home
    • Oil
    • Gas
    • Power
    • Solid Minerals
    • Labour
    • Financing
    • Freight
    • Community Development
    • E-Editions
    SweetCrudeReportsSweetCrudeReports
    Home » India sees fuel demand recovery to pre-pandemic level by end-2021

    India sees fuel demand recovery to pre-pandemic level by end-2021

    June 30, 2021
    Share
    Facebook Twitter LinkedIn WhatsApp

    <

    *Indian Petroleum Minister Dharmendra Pradhan.

    New Delhi — India’s fuel demand, hit by a deadly second wave of coronavirus, would recover to pre-pandemic levels by the end of this year, oil minister Dharmendra Pradhan said on Tuesday.

    Local fuel consumption- a proxy for oil demand – in May slumped to its lowest since last August as lockdowns and restriction in several states stalled mobility and muted economic activity.

    Indian fuel demand showed signs of resurgence this month due to the lifting of lockdowns by states and a gradual pick-up in economic momentum, Pradhan said at an energy summit organized by BNEF.

    India, the world’s third-biggest oil importer and consumer, imports over 80% of its oil needs. Asia’s third-largest economy has been hit hard by a spike in global oil prices, with its tax-heavy retail prices of gasoline and gasoil touching record highs.

    “Inflation is a challenge to the globe today …so we are also facing this challenge in our economy. But with all these challenges we are confident by the end of this calendar year we will be in a position to restore our original consumption behavior,” Pradhan said.

    The minister has repeatedly asked the Organisation of Petroleum Exporting Countries and its allies to ease supply curbs for a demand-led recovery.

    Ahead of the meeting of OPEC and its allies on July 1, Pradhan said he expect oil prices to ease.

    – Reuters (Reporting by Nidhi Verma; Editing by Andrea Ricci)

    Follow us on twitter

    Related News

    IPMAN raises alarm over Dangote’s free fuel distribution plan

    TotalEnergies enters 40 Chevron-operated US offshore blocks

    OPEC expects solid second-half of 2025 for world economy

    Comments are closed.

    E-book
    Resilience Exhibition

    Latest News

    IPMAN raises alarm over Dangote’s free fuel distribution plan

    June 16, 2025

    TotalEnergies enters 40 Chevron-operated US offshore blocks

    June 16, 2025

    OPEC expects solid second-half of 2025 for world economy

    June 16, 2025

    Crude oil prices climb above $77/b amid Israel-Iran clash

    June 16, 2025

    ‘Ghana has lost $11bn to gold smuggling, links to UAE’

    June 16, 2025
    Demo
    Facebook X (Twitter) Instagram
    • Opec Daily Basket
    • Oil
    • Power
    • Gas
    • Freight
    • Financing
    • Labour
    • Technology
    • Solid Mineral
    • Conferences/Seminars
    • Community Development
    • Nigerian Content Initiative
    • Niger-Delta Question
    • Insurance
    • Other News
    • Focus
    • Feedback
    • Hanging Out With Markson

    Subscribe for Updates

    Get the latest energy news from Sweetcrudereports.

    Please wait...
    Please enter all required fields Click to hide
    Correct invalid entries Click to hide
    © 2025 Sweetcrudereports.
    • About Us
    • Advertise with us
    • Privacy Policy

    Type above and press Enter to search. Press Esc to cancel.