Coronavirus impact: Fuel demand nearly halves in April as lockdown, travel curbs erode economic activity
Consumption of fuel, a proxy for oil demand, totalled 9.93 million tonnes-its lowest since 2007, government data showed on Saturday.
Fuel demand hit: Petrol sales down 61%, diesel at 56.5% in April; demand expected to pick up this month
India's fuel consumption slumped by close to 70 per cent in April as all petroleum products except LPG saw massive demand erosion following a nationwide lockdown halted economic activity and travel
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Oil climbs more than $1 a barrel as OPEC, allied producers agree record output cut; gains capped amid coronavirus concerns
Total global oil supply cuts could come to 20 million barrels per day, around 20 percent of global supply, Kuwait’s oil minister said.
Fuel consumption in the current fiscal ending 31 March will grow by just 1.3 percent, its slowest pace in six years.
Oil slips from five-month high as sluggish economic outlook counters tight market, Brent futures at strongest level
Despite the economic concerns, global oil markets are tight, and Brent and WTI crude oil futures have risen by 40% and 30% respectively since the start of the year.
Fuel rates continue to decline further due to fall in crude prices; OMCs, oil producers to get a breather
Friday is the is the 30th consecutive day when fuel prices have not been increased in the country
Indian oil demand, which faced substantial pressures in 2018 because of rising rates and a weakened rupee, is set for recovery next year, Fitch Solutions Macro Research said
During July, petrol sales were up 7.8 percent at 2.3 million tonnes while diesel consumption was up 4.8 percent to 6.6 million tonnes.
India's fuel demand rose a meagre 3.8% in May as frequent price hikes dented petrol, diesel consumption
The primary reason for this small growth was the increase in retail selling price after state-owned oil firms lifted pre-Karnataka poll hiatus to resume daily price revisions from 14 May
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Could it be that the privileges these pump owners once enjoyed – of cash transactions, of favourable deals and of shortchanging customers – are now coming to a close in a digitized and more transparent age?
Consumption of fuels, a proxy for oil demand, surged 10.7 percent to 196.48 million tonnes in 2016, data from the Petroleum Planning and Analysis Cell (PPAC) of the Oil Ministry showed.
Sales of gasoline, or petrol, were 4.4 percent higher from a year earlier at 1.85 million tonnes
India could announce steps to curb fuel consumption on September 16, Foreign Minister Salman Khurshid said on Friday, in a bid to cut the biggest item in the country's import bill and help support a rupee skittering just above record lows.