India’s oil demand recovery is poised to face the return of Covid

India's oil demand recovery is poised to face the return of Covid

“There’s no doubt January will be subdued compared to December,” Surana said, predicting that the current surge in Covid-19 infections should flatten this month. “I’m not seeing a longish trend to this wave.”

Indian oil refiner Hindustan Petroleum Corp. is cautiously hopeful that the country’s recuperation from the pandemic will remain to a great extent flawless, regardless of a new spike in Covid cases. Infections have surged and less vehicles are traversing the roads of India’s capital, yet specialists have up until this point avoided initiating a cross country lockdown, opting for targeted restrictions like shutting bars. While individuals are staying away from superfluous travel, there hasn’t been a considerable effect on demand, as per Hindustan Petroleum Chairman Mukesh Kumar Surana.

India was hit hard by a devastating outbreak of the delta variant early last year that overwhelmed the health system, although the nation was spared a collapse in oil demand similar to 2020 after avoiding a nationwide lockdown. The economy recovered over the second half of 2021 as vaccinations rates rose, with diesel consumption climbing to a two-year high in December and gasoline use at the highest in records going back to 1998.

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