OIL & GAS

India’s jet fuel demand to revive after being decimated by Covid-19

India’s jet fuel demand is ready for takeoff as the country plans to open its doors to international tourists and establishes more air travel bubbles. Meanwhile, domestic travel has surged amid a steady decline in fresh daily coronavirus infections, with the total number of doses administered in the world’s second most populous country crossing 1 billion, according to S&P Global Platts Analytics.

“There is a lot of travel optimism due to loosened restrictions, pent-up leisure demand combined with festive and marriage season in India,” Shreyans Baid, South Asia oil market analyst with S&P Global Platts Analytics said.

“We expect India’s Q4 kerosene/jet demand to grow by 33% over the previous quarter but that will still be some 24% below pre-pandemic levels of Q4 2019 in absence of full-fledged opening up of international travel,” Baid said.

Source
Livemint
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