India Sees Lowest Fuel Demand Growth In 14 Years

13 Sep 2017   India

India reached a 14-year low in fuel demand as the effects of a massive flooding event that unfolded over the past few weeks become clearer. National oil demand fell by 6.1 percent as Indians in select areas tend to their homes to measure the water damage from stronger than usual monsoon rains. India is the world’s fastest growing oil consumer. The Asian country used 15.75 million tons of fuels last month, about 1 million tons lower than figures from last year from the same month. Demand for diesel – which represents 40 percent of fuel demand for the country – fell 3.7 percent as well. “Severe flooding in parts of the country may have impeded freight and manufacturing activities causing overall demand to contract,” Nevyn Nah from Energy Aspects said. “Also, demand growth was exceptionally strong in August last year resulting in a high base.” Last August’s figures showed […]

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