MUMBAI : Indian refiners are ruing their inability to fully reap the benefits of a sharp fall in global oil prices, thanks to a dearth of crude oil storage capacity.

With Brent, the global oil benchmark, plunging to a two-decade low, expectations have risen in India that lower oil prices would cushion the country’s current account deficit and help cool inflation.

A nearly month-long countrywide lockdown to contain the covid-19 pandemic has crimped demand for fuel products in India, the world’s third-largest oil importer.

This has saddled refiners with unsold stocks at their depots as well as fuel retailing outlets. And with bare minimum off take, refineries are now operating at 40-50% of their capacities. “Our refineries are not running at

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"My dad was forgotten by the system" - daughter's anger over lack of testing inside care homes after dad dies from suspected coronavirus - manchestereveningnews.co.uk

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death testing isolate Coronavirus

Your wedding was canceled due to coronavirus. Now what? We asked a wedding planner

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Turkey sends medical equipment to help US fight virus

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Jessy Lanza confirms details of third album and shares new track ‘Face’

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Hilarie Burton reveals the reason she won't dye her gray roots

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pandemic quarantine SOLIDARITY Coronavirus

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Mr Tumble, Andy Day and Drs Chris and Xand in new CBeebies and CBBC shows being made for lockdown

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BTS postpone world tour due to Covid-19 pandemic

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Oil moves mixed on easing lockdowns, looming storage shortage

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Karlovy Vary Festival Canceled Due to Coronavirus Pandemic

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United States	Cases: 46 252 513 Deaths: 750 423 Recovered: 0
India	Cases: 34 321 025 Deaths: 459 652 Recovered: 0
Brazil	Cases: 21 835 785 Deaths: 608 235 Recovered: 0
United Kingdom	Cases: 9 215 683 Deaths: 141 607 Recovered: 0
Russia	Cases: 8 494 589 Deaths: 237 619 Recovered: 0

India misses a trick due to lack of oil storage capacity

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