India’s oil product consumption rises in June

Oil

India’s oil product consumption increased by 450K b/d m-o-m and 70K b/d y-o-y to 4.36M b/d in June, rising after previously tumbling to a nine-month low in May, according to data from the Petroleum Planning and Analysis Cell (PPAC). Gasoline use rose by 140K b/d m-o-m and 40K b/d y-o-y to a three-month high of 690K b/d, while sales of diesel jumped by 220K b/d m-o-m to 1.57M b/d. Naphtha consumption edged down by 4K b/d m-o-m to 350K b/d however, falling for the third month in a row to the lowest level since September 2020. Indian oil product demand has started to recover after many states have eased lockdown restrictions following a reduction in coronavirus infections, Argus reports.