Analysis: India’s oil demand seen rebounding after sluggish September

24 Oct 2016   India

After posting double-digit growth in August, India’s oil products demand in September declined as widespead rains and regional unrest took toll on transport, but analysts expect a rebound in October on the back of firm fundamentals and following the end of the monsoons. The sharp growth in consumption of LPG and jet fuel in September was not enough to offset a drop on demand for diesel and gasoline, pulling down overall oil products demand 0.8% year on year to 14.6 million mt, or 3.82 million b/d, latest provisional data from the Petroleum Planning and Analysis Cell showed. “The conclusion of seasonal rainfalls, the onset of winter, and improving industrial demand amid festive season should propel growth in coming months, notwithstanding any increases in crude prices,” said Sri Paravaikkarasu, senior consultant and Asia downstream specialist at Facts Global Energy. The negative growth recorded in September was a steep decline from […]

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