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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
OIL PRODUCTS
Indian oil products demand is forecast to rise by 7% this year compared to 2019 pre-Covid levels supported by economic growth with focus on industrial and construction activity and continued strength in the agricultural sector according to S&P Commodity Insights.
- India's oil products demand rose by 238kbpd, or 4.8%, on the year in the first six months of 2023, mainly led by growth in diesel sales.
- Diesel demand is seeing robust growth due to solid economic fundamentals and an ongoing government push for infrastructure development.
- Gasoline and jet fuel also remain significant contributors, and the three transport fuels combined are expected to account for more than 90% of oil demand growth in 2023.
- The country’s fuel demand is expected to rise by around 11% in 2024 versus 2019 levels.
- India’s oil product demand in June stood at 19.3mn tons, up from 18.5mn tons a year earlier, data from the Oil Ministry’s Petroleum Planning & Analysis Cell showed.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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