| |OCTOBER 202119CHANGING DYNAMICS OF COMMODITIESThought CentralBy Narinder Wadhwa, President, Commodity Participant Association of IndiaI ndia's domestic gasoline consumption had staged a strong rebound to 8 million mt in fourth quarter 2020 from a low of 5 million mt in Q2 2020, Petroleum Plan-ning and Analysis Cell data showed.The exponential surge in India's COVID-19 cases has affected the country's energy, metals and agriculture mar-kets; it has also cast a shadow on the international price out-look of some commodities.With India reporting about 300,000 cases daily for many consecutive days, there is a more likelihood of lower con-sumption numbers of some commodities.OIL: India would witness a year-on-year oil demand growth of 400,000 b/d in 2021, lower than an earlier esti-mate of 440,000 b/d according to expertsWith lockdowns like restrictions in major cities and in-dustrial places and work from home mode of working, the demand from oil will be less.India's domestic gasoline consumption had staged a strong rebound to 8 million mt in fourth quarter 2020 from a low of 5 million mt in Q2 2020, Petroleum Planning and Analysis Cell data showed. As some surveys by some global research agencies, the demand slipped to 7.8 million mt in
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