India’s oil demand in 2021 to fall below 2019 levels

13 May 2021 CW Team

According to S&P Global Platts, India's oil demand in 2021 is likely to fall below that of 2019. This is due to the second wave of the Covid-19 pandemic, which has resulted in increased lockdowns across multiple states.

According to Kang WU, Director of Global Demand and Asia Analytics, India's oil demand is expected to be 225,000 barrels per day lower in April than it was in March, according to Platts Analytics. Due to more impending restrictions, May is expected to weaken even more, falling by 370,000 barrels per day before improving in June. After a sharp contraction of 470,000 barrels per day last year, the firm has revised down India's oil demand growth for 2021 to 350,000 barrels per day, which is still positive. As a result, oil demand in 2021 is expected to remain lower than it was in 2019.

Oil demand is already outpacing supply and the shortfall is expected to worsen.

Oil prices fell on Thursday, reversing an eight-week high, as fears of the Coronavirus outbreak in India, the world's third-largest crude importer, dampened a rally fueled by IEA and OPEC predictions of strong demand.

After gaining over 1% on Wednesday, Brent crude was down 32 cents, or 0.5%, at $69.00 a barrel by 0145 GMT. After rising 1.2% the previous session, West Texas Intermediate (WTI) was down 31 cents, or 0.5%, to $65.77 a barrel.

The Organisation of Petroleum Exporting Countries (OPEC) recently maintained its forecast for a robust return of global oil demand in 2021, citing growth in China and the United States as cancelling out the impact of India's Coronavirus crisis.

Image Source

Equipment

12 Dec 2025

Schwing Stetter India Unveils New Innovations at Excon 2025

Schwing Stetter India unveiled more than 20 new machines at Excon 2025, marking one of its most significant showcases and introducing several India-first technologies to the construction equipment sector. The company launched the country’s first 56-metre boom pump designed and manufactured in India, the first fully electric truck mixer, the first CNG mixer variant and the first hybrid boom pump. Executives said the launch portfolio was engineered to support India’s move toward faster, greener and more vertically oriented infrastructure through advanced engineering, clean-energy solutions a..

SEPC Resolves Hindustan Copper Dispute, Wins Rs 725 Mn Order

Engineering, procurement and construction firm SEPC Ltd has recently settled a dispute with Hindustan Copper Ltd (HCL) and secured a mining infrastructure order valued at Rs 725 million from the state-owned company. SEPC informed the stock exchanges that it has executed a settlement deed with HCL, bringing closure to all inter-se claims and counterclaims arising from arbitration proceedings. As part of the settlement, SEPC will receive Rs 304.5 million as full and final payment, marking the resolution of all pending disputes between the two entities. The company also stated that Hindustan Co..

20% Ethanol Blending Cuts India’s CO2 Emissions by 73.6 Mn Tonnes

Union Road Transport and Highways Minister Nitin Gadkari recently said that India has reduced carbon dioxide emissions by 73.6 million metric tonnes due to the adoption of 20 per cent ethanol blending in petrol. He made the statement while replying to supplementary questions during the Question Hour in the Lok Sabha. Describing ethanol as a green fuel, the minister said it plays a key role in reducing pollution while also supporting higher incomes for farmers. He underlined that ethanol blending contributes both to environmental sustainability and rural economic growth. Nitin Gadkari also po..