India’s fuel demand in June extended its recovery from a 13-year low hit in April, lifted by a pickup in activity as the economy gradually reopens from lockdown restrictions imposed to combat the coronavirus pandemic, government data showed on Thursday.
Consumption of refined fuels, a proxy for oil demand, rose to 16.29 million tonnes in June, 11% above the prior month, data from the Petroleum Planning and Analysis Cell (PPAC) of the Ministry of Petroleum & Natural Gas showed.
However, demand was still down 7.9% compared with the same month a year ago.
Demand for fuel plunged to 9.94 million tonnes in April, its lowest level since 2007 as stringent lockdown measures hammered economic activity, but it has since recovered by 64%.
