India data: Nov oil products demand rose 12% on year to 4.3 Mil b/d

16 Dec 2016   India

India’s demand for oil products in November rose 12% year on year to 16.6 million mt, or 4.35 million b/d, latest provisional data from the Petroleum Planning and Analysis Cell showed. The higher growth in November was the second straight month of positive growth, after a negative growth in September when demand fell 0.8% year on year to hit a two-year low of 14.6 million mt, or 3.82 million b/d. In October, demand for oil products rose 6.6% year on year to 16.5 million mt, as demand for transport fuel rose after the rainy season ended in September. “Half of the November 2016 demand growth was due to higher petrol/diesel sales, which had been elevated as fuel stations continued accepting old high-denomination currencies,” said a Credit Suisse report Wednesday. Article continues below… Platts 4th Annual Asian Refining Summit March 9 to 10, 2017 | Novotel Clarke Quay, Singapore Running […]

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