World's Third Largest Oil Consumer Sees Very Slow Demand Recovery

World's Third Largest Oil Consumer Sees Very Slow Demand Recovery

OilPrice.com

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Crude oil demand in India will take longer to recover than many hope for as the country braces for the worst recession in its history after a two-month lockdown. Bloomberg reports, citing Indian oil industry executives, that demand for the commodity might take until the end of the year to return to pre-crisis levels after last month, fuel demand at one point dropped by as much as 70 percent. Still, most of the demand will return before the end of the year, according to one executive. “Demand is reaching 60% to 70% of normal, but it will…

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