Indian Refiners cut output as fuel demand dips

Falling Oil Prices

As fuel demands are falling and global margins for refining are weak the Indian refiners are reducing crude processing and shutting units for maintenance. The article highlights the drop in demand in oil due to the COVID-19 lockdown as the reason for such measures by these companies. The low demand is also expected in the coming month till the festive season starts. Details from the news are important for both prelims and mains.

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