India’s Oil Demand Outlook Remains A Mystery

Oil demand in India has been clouding the outlook of global crude consumption since a devastating second COVID wave resurged in the world’s third-largest oil importer three months ago.  India’s uneven—and now stalled—recovery has been the key source of concern about global oil demand recovery in recent months, mostly because of the unknowns about when localized lockdowns to fight the spread of the pandemic would end and lift fuel demand for transportation and economic activities.   As severe and deadly as…