Asia’s return to pre-virus oil demand meets several speed bumps

Asia’s return to pre-virus oil demand meets several speed bumps

Asia's uneven oil demand recovery has been headlined by China and India, but the Covid-19 comeback that's swept through other key fuel-consuming nations is complicating a return to pre-pandemic levels.

It's a flare-up that's had varying impacts, according to May manufacturing and traffic data. Driving and industrial activity in Japan was robust, despite a state of emergency, while Malaysia fared poorly amid its virus wave, missing out on a typical seasonal boost. Indonesian fuel demand was strong and Australia has managed to see off the worst of pandemic-related disruptions.

The biggest drag on overall gasoline and diesel demand remains India, but there are emerging signs that the recovery is underway across Asia.