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India Sees Return to Normal Oil Demand by Year-End

  • There’re signs of demand resurgence, says India’s oil minister
  • Oil prices a challenge for India, hopes it will “sober” down
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India expects fuel demand to get back to pre-virus levels by the end of 2021 as the world’s third-biggest oil consumer emerges from the clutches of the Covid-19 pandemic.

“There are signs of demand resurgence due to lifting of lockdowns and gradual pickup in economy,” India’s Oil Minister Dharmendra Pradhan told Bloomberg New Energy Finance’s Ashish Sethia at the BNEF Summit held virtually on Tuesday. “We are confident by the end of the year, we will be in a very robust position to restore our original consumption behavior.”