India’s Fuel Demand Is Finally Bouncing Back

Indian fuel demand is beginning to improve as states begin to ease their lockdowns and refineries begin to raise run rates, Argus has reported. The report cites India's oil minister Dharmendra Pradhan as saying economic activity has also been on the mend over the past three weeks, contributing to the fuel demand increase.

"We are confident that by the end of 2021, the fuel demand will recover to pre-pandemic levels," the official said, as quoted by FXStreet. Refinery run rates at state-controlled companies have risen by between three and 10 percentage…