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Indian Oil Product Exports Rose 20.1% MoM in Feb

OIL PRODUCTS

Indian oil products exports increased by 14.8% on the year in February to 5.8mn tons, or 1.57mbpd, while rising 20.1% above January levels, PPAC data showed.

  • Diesel/gasoil exports rose by 18.6% on the month to 2.399mn tons in February. Gasoline exports increased by 29% on the month to 1.256mn tons.
  • Gasoil exports were supported by a lack of domestic demand due to unfavourable weather conditions that limited road transport and manufacturing activities last month.
  • "Higher exports were led by strong product demand and better product spreads," said Sumit Pokharna, vice president at Kotak Securities.

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