EIA lowers its forecast of India's oil demand because of rising COVID-19 cases

The rapid increase in COVID-19 cases in India has led to various travel restrictions, which reduced consumption of transportation fuels such as gasoline and diesel. As a result, we revised down our forecast for petroleum consumption in India in the May Short-Term Energy Outlook (STEO). We estimate that petroleum consumption in India declined by 0.4 million barrels per day (b/d) (8%) to 4.7 million b/d between March and April. More »