Indian oil refiners that have cranked up processing rates in response to a rebound in fuel demand have a seasonal boost to look forward to that not even a rapidly spreading virus is expected to derail.
The nation’s two main festivals — Navratri and Diwali — start mid-October and extend for more than a month, typically increasing demand for consumer goods with more diesel-guzzling trucks hitting the road to deliver everything from clothes to refrigerators. This may lead to refiners boosting already elevated crude processing rates further to meet rising fuel consumption.
