{"id":374632,"date":"2020-09-22T10:29:58","date_gmt":"2020-09-22T04:59:58","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=374632"},"modified":"2020-09-22T11:23:45","modified_gmt":"2020-09-22T05:53:45","slug":"indias-oil-demand-outlook-darkening-as-economy-limps-along-fitch","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/indias-oil-demand-outlook-darkening-as-economy-limps-along-fitch\/","title":{"rendered":"India&#8217;s oil demand outlook darkening as economy limps along: Fitch"},"content":{"rendered":"<p>Fitch Solutions has made a further downward revision to India refined fuels demand forecast for 2020 from minus 9.4 per cent to minus 11.5 per cent in line with further deterioration in the country&#8217;s economic outlook.<\/p>\n<p>Its economists now forecast real GDP to contract by 8.6 per cent in FY21, down from minus 4.5% previously. In the first quarter of FY21, GDP contracted by 23.9 per cent, the steepest contraction on record.<\/p>\n<p>&#8220;The domestic COVID-19 outbreak shows no signs of abating with daily cases continuing to accelerate. While the nationwide lockdown in place since March 25 was lifted on May 31, state-level restrictions remain in place and will likely drag on the economic recovery,&#8221; said Fitch.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Fitch Solutions has made a further downward revision to India refined fuels demand forecast for 2020 from minus 9.4 per cent to minus 11.5 per cent in line with further deterioration in the country&#8217;s economic outlook. Its economists now forecast real GDP to contract by 8.6 per cent in FY21, down from minus 4.5% previously. In the first quarter of FY21, GDP contracted by 23.9 per cent, the steepest contraction on record. &#8220;The domestic COVID-19 outbreak shows no signs of abating with daily cases continuing to accelerate. While the nationwide lockdown in place since March 25 was lifted on May [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[139,130,187],"tags":[],"class_list":["post-374632","post","type-post","status-publish","format-standard","hentry","category-live-mint","category-newspapers","category-oil-gas-live-mint"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/374632","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=374632"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/374632\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=374632"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=374632"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=374632"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}