EIA lowers its forecast of India’s oil demand because of rising COVID-19 cases

The rapid increase in COVID-19 cases in India has led to various travel restrictions, which reduced consumption of transportation fuels such as gasoline and diesel. As a result, we revised down our forecast for petroleum consumption in India in the May Short-Term Energy Outlook (STEO). We estimate that petroleum consumption in India declined by 0.4 million barrels per day (b/d) (8%) to 4.7 million b/d between March and April.
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SynEnergy Partners LLC continues to monitor COVID-19 around the clock under the guidance of our Global Crisis and Regional Incident Management teams, and we have responded as a company with compassion for those who may be affected as well as an abundance of caution to limit the spread of the virus.

We are also taking measures to ensure business continuity remains unimpacted during this time.