Tuesday , October 16 2018

India’s oil demand surges for eighth straight month

Bloomberg

India’s oil consumption surged 4.5 percent in April as industrial activity gathered pace in Asia’s third-largest economy and sales of trucks and buses soared.
The nation’s total oil demand expanded to 17.7 million tonnes in the month from 16.9 million a year ago, rising for eight straight months, according to the oil ministry’s Petroleum Planning & Analysis Cell. Demand for diesel, which accounts for about 40 percent of India’s oil consumption, increased 2.7 percent to 7.2 million tonnes. Demand for diesel is typically muted in April as farming consumption shrinks following the harvest season in March. Gasoline consumption was about 9.3 percent higher at 2.3 million tonnes. Liquefied petroleum gas usage gained 13 percent to 1.9 million tonnes. Demand for petroleum coke shrunk 0.7 percent to 2.2 million tonnes.

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