Higher expectation of fuel consumption, a proxy for oil demand, points to a sharp recovery in industrial activity in the economy hit hard by the pandemic.
India's economy returned to growth in the three months to December with its gross domestic product rising 0.4% compared with the same period a year earlier.
Total fuel demand fell 3.7% on year after registering its first year-on-year increase since February in October, as manufacturing and services slowed with consumers staying indoors to avoid getting infected by the novel coronavirus.