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High prices, virus resurgence may cast dark clouds over India’s crude runs
Indian refiners are starting to slow their crude runs, as high retail prices have dented domestic appetite for oil products a trend that could get prolonged if the resurgence of COVID-19 in some provinces leads to another round of lockdowns and movement restrictions, analysts told S&P Global Platts.
As states such as Maharashtra and Karnataka witness a sharp surge in cases prompting authorities to implement restrictions, analysts said that demand for certain oil products like gasoil and gasoline could face another setback, resulting in refiners to adopt a cautious approach on throughput.
Singapore Indian refiners are starting to slow their crude runs, as high retail prices have dented domestic appetite for oil products a trend that could get prolonged if the resurgence of COVID-19 in some provinces leads to another round of lockdowns and movement restrictions, analysts told S&P Global Platts.
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As states such as Maharashtra and Karnataka witness a sharp surge in cases prompting authorities to implement restrictions, analysts said that demand for certain oil products like gasoil and gasoline could face another setback, resulting in refiners to adopt a cautious approach on throughput.