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Oil edges lower near $61 with near-term demand concerns in focus

While oil’s sustained advance this year stalled recently, there is confidence in the longer-term outlook as Covid-19 vaccinations are rolled out worldwide and as the US unleashes significant stimulus.

A crude oil pump jack on a drill pad in the Permian Basin in Loving County, Texas. (Reuters File Photo )
A crude oil pump jack on a drill pad in the Permian Basin in Loving County, Texas. (Reuters File Photo )
Published on Mar 23, 2021 05:58 AM IST
Bloomberg |

India’s fuel consumption shrank by 18% in March, biggest decline in over a decade

India’s petroleum product consumption fell 17.79 per cent to 16.08 million tonnes in March as diesel, petrol and aviation turbine fuel (ATF) demand fell, according to official data released on Thursday.

Petrol sales dropped 16.37 per cent to 2.15 million tonnes as the 21-day nationwide lockdown enforced to prevent the spread of Covid-19.(HT File Photo)
Petrol sales dropped 16.37 per cent to 2.15 million tonnes as the 21-day nationwide lockdown enforced to prevent the spread of Covid-19.(HT File Photo)
Updated on Apr 09, 2020 01:53 PM IST
Press Trust of India | ByPress Trust of India
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