India Sees Oil Production And Refinery Output Slump In 2020, 2021

Due to the pandemic that shut down some oilfields, India’s oil production dropped by 5 percent year over year in the fiscal year between April 2020 and March 2021, while refiners processed 13 percent less crude because of the slump in fuel demand, according to government data cited by The Economic Times. Natural gas production in India also slumped, by 8 percent, in the fiscal year that has just ended, the data showed. According to the data from the Petroleum Planning & Analysis Cell (PPAC), the volume of India’s crude oil imports…