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Indian Refiner Crude Processing Rose 4% YoY In Dec

REFINING

Indian refiners' crude oil processing in December rose around 4% on the year because of higher demand, government data showed.

  • Crude oil imports rose last month to a five-month high on refiners buying cheaper Russian fuel amid a higher domestic demand. "Discounted crude oil from Russia will help refiners boost runs," said Ehsan Ul Haq, an analyst from Refinitiv.
  • Crude oil production last month was at 586,700 bbl/day, down by 1.2% year on year, on lower output at certain Oil and Natural Gas Corporation clusters.

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