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Covid-19: Deserted streets, fleeing workers threaten India's oil demand

After dipping by about 2 per cent in March from February, overall consumption of oil products looks set to extend declines this month.

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Policemen asking people to sit at the entrance of Lokmanya Tilak Terminus railway station, amid the spread of Covid infections in Mumbai | PHOTO: REUTERS

Saket Sundria | Bloomberg
The usually teeming streets of India’s commercial capital of Mumbai looked more like a scene from a post-apocalyptic movie last weekend, an ominous sign for energy demand in the world’s third-biggest oil importer.

On Marine Drive, which overlooks the Arabian Sea, the regular hustle and bustle was completely absent, while Dr Dadabhai Naoroji Road, a thoroughfare that runs past one of the world’s busiest railway stations, was also eerily empty.

That’s a gloomy portent for India, where fuel consumption still hasn’t fully recovered from last year’s national lockdown that saw oil demand fall to the lowest since 2007. After dipping by about