INDIA'S FUEL DEMAND TO RECOVER THROUGH COVID-19 PANDEMIC

India's fuel demand will continue to recover through the current quarter as the easing of Covid-19 pandemic-related restrictions boosts economic activity, Fitch Ratings said on Monday, adding a caveat that this was subject to the risk of a resurgence in infections and the resultant impact on economy and mobility.

The recovery should support higher throughput at most oil marketing companies and strong prices are expected to improve the financial profiles of upstream oil and gas companies.

Fitch said it "expects India's petroleum product demand to remain moderately strong in the fourth quarter of the financial year ending March 2022 (4QFY22), as the easing of Covid-19 pandemic-led restrictions boosts economic activity."

Learn More