India has repeatedly shattered records for infections and deaths as the virus sweeps through the nation, stoking fears that the central government may be forced to implement another national lockdown
India, also the world's third-largest oil user, on Wednesday reported another record increase in the daily death toll from Covid-19
Motor fuel demand rose to 88,380 tons per day last month, the highest level since November last year, according to official data.
Oil prices climb on favourable outlook for United States fuel demand
First recorded decline in overall consumption, primarily attributed to Covid-19 lockdowns
Prices also dropped as fuel demand in Europe remained weak after countries renewed lockdowns to curb a new wave of coronavirus infections.
Brent crude was up 31 cents, or 0.5%, at $63.59 a barrel
The world is likely to see peak demand for petrol by the late 2020s and for diesel by 2035, a senior petroleum ministry official said Thursday
Demand for diesel and petrol seen rising 13%, modest 5% increase in LPG
A reflating economy will drive petrol and diesel demand, according to Oil Ministry's projections
DGH, the government custodian of upstream oil and gas production in the country, said production levels are likely to be higher in the 2021 calendar year
There is a pressure on fuel price due to imbalance in demand and supply," Pradhan said while speaking to media in Betul
While LPG use rose as more people cooked at home due to tighter coronavirus restrictions, India's full-year consumption of fuel never fully recovered
Oil prices fell on renewed concerns about global fuel demand amid strict coronavirus lockdowns in Europe and new movement restrictions in China, the world's second-largest oil user
India's fuel demand rose for the fourth straight month in December
On an annual basis, demand slipped by 1.8%, indicating that consumption in Asia's third-largest economy hasn't yet reached pre-pandemic levels
Oil prices slid as a new coronavirus strain in the UK raised concerns that tighter restrictions there and in other European nations could stall recovery in global economy and its need for fuel
Diesel prices too were same as the previous levels. In Delhi, Mumbai, Chennai and Kolkata, diesel was sold for Rs 73.87, Rs 80.51, Rs 79.21 and Rs 77.44 per litre, respectively, all unchanged levels
Diesel consumption, a key parameter linked to economic growth and which accounts for about 40% of overall refined fuel sales in India, edged up 0.6% month-on-month
Brent crude rose 51 cents, or 1 per cent, to $49.35 a barrel by 7:35 pm IST. West Texas Inter-mediate (WTI) crude climbed 51 cents, up 1 per cent, to $49.35