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Indian Oil Product Demand In May Rose Most In Six Months

OIL PRODUCTS

Indian oil product demand last month rose by 9% year on year, the highest jump since November, to 20mn tons according to provisional data from the oil ministry’s Petroleum Planning & Analysis Cell.

  • Gasoline consumption was at 3.35 million tons, up by 11% y/y.
  • Diesel consumption was at 8.22 million tons, up by +13% y/y.
  • Naphtha consumption was at 1.15 million tons, up by +38% y/y.
  • Latest import data from April showed a decline in oil product imports to 2.995mn tons, down by 17.8% on the month and by 28.3% on the year.

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