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India’s oil demand spared 2020’s collapse despite Covid-19 crisis

India covid-19 2020 Waves
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Covid-19 wave sweeping across India tallying grim daily records has surpassed the severity of the 2020 outbreak. On the surface, the near-term outlook looks bleak for oil refiners, but a closer look reveals marked differences between this year’s situation and the last.While a raft of bearish calls predicting even worse demand this month has emerged after fuel consumption plunged in April, here are some reasons why India’s oil refiners and fuel marketers are better off this year, despite the virus tearing through one of the world’s most populous countries.The Big LockdownA snap nationwide lockdown implemented early last year to curb the spread of the initial wave crippled the economy, driving oil demand to the lowest in more than a decade.

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
Detail statistic
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