Insight
India’s lockdown puts off the last hope for oil demand growth in 2020
Report summary
Following the India nationwide 21-day lockdown from 25 March to contain the spread of the coronavirus outbreak, we expect a serious impact on India’s oil demand and refinery run rates. We estimate that India's oil demand will decline by about 870,000 b/d year-on-year in April and in response refinery runs will decline by about 1.2 million b/d. If the restrictions are not carried forward beyond mid-April, we expect oil demand and refinery run rates to recover gradually and hence for whole of 2020, oil demand is expected broadly flat year-on-year, while refinery runs are expected to decline by 320,000 b/d year-on-year.
Table of contents
- No table of contents specified
Tables and charts
No table or charts specified
What's included
This report contains:
Other reports you may be interested in
16 January 2020
India energy: 2019 in review and what to look for in 2020
Insight
India energy: 2019 in review and what to look for in 2020
Energy and economic concerns continue to grow
$1,05027 May 2020
Global LNG demand tracker Q2 2020
Commodity Market Report
Global LNG demand tracker Q2 2020
Coronavirus containment measures across major LNG importers has led to a material downgrade in global LNG trade forecast across summer 2020
$2,65015 January 2020
Steel: 5 things to look for in 2020
Insight
Steel: 5 things to look for in 2020
The biggest risk to our forecast remains Chinese government stimulous resulting in demand upside - but there are other sources of surprise
$1,050
Trusted by leading organisations
