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Plunging fuel demand has OMCs worried on all fronts

city New Delhi India infection Coronavirus
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NEW DELHI : National oil companies are staring at inventory losses as they have to bring down refinery throughputs because of the plunging demand for fuels following the nationwide lockdown to contain the deadly coronavirus infection.

India is the world's third-largest energy consumer but the Covid lockdown has shut businesses, suspended flights, stopped trains and brought almost the entire vehicular movement to a halt, impacting fuel demand.

For the full the month of March, total retail volume has come down by 17 per cent, led by a 26 per cent dip in diesel demand and a 17 per cent fall in petrol and practically demand for aviation fuel is down 33 per cent, according to the national data shared by IOC on a year-on-year basis.

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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
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Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
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Deaths: 141 607
Recovered: 0
Russia
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Deaths: 237 619
Recovered: 0
Detail statistic
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