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Indian Crude Throughput Ticked Higher in September

OIL

Indian refiners crude processing rose by around 7.4% in September versus a year prior based on the latest provisional government data whilst also nudging higher on a monthly basis.

  • •Throughput was about 4.78 mn bpd (19.55 million tonnes) in September, up from 4.62 mn bpd reported in August.
  • •Refineries saw capacity utilisation jump to 94.7% in September this year, compared with
  • 88.9% in the previous year.
  • •India has shown little intent to join the G7 price cap on Russian crude, instead taking advantage of cheap Urals despite saying they are looking at the groups proposals.
  • •Indian product demand has grown since the end of the monsoon season and helped by cheaper prices than earlier in the year.


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