Pointing to a recovery in economic activity, India’s fuel consumption registered its first year-on-year increase since February last month.

Crude oil processed by Indian refiners rose to its highest in seven months in October as fuel demand picked up although throughput remained lower than a year earlier, hurt by the coronavirus pandemic’s impact on industrial and transport activity.

Crude oil throughput in October dropped 16.1 percent from a year earlier to 4.35 million barrels per day (18.39 million tonnes), but was the highest since March when the country went into a nationwide lockdown, provisional data issued by the government shows.

Crude oil throughput in October rose 0.5 percent from September’s 4.33 million barrels per day (17.71 million tonnes).

Crude oil production fell by 6.2 percent to 2.57 million tonnes (608,000 barrels per day), the monthly report showed.

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30th November 2020