Record COVID Cases In India Could Threaten Global Oil Demand

Demand for fuel in the world’s third-largest oil importer, India, is crashing amid record new daily COVID cases that lead to tightening restrictions and could slow the global oil demand recovery that the market and OPEC+ were expecting. For the second day in a row, India reported on Friday the highest single-day increase in COVID cases anywhere in the world since the pandemic started. The biggest cities in India are on lockdown again this month, when the surge in infections started to overwhelm hospitals. The mobility restrictions are also…