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Indian Oil Demand Posts First Annual Growth Since February

  • Total petroleum demand rose 2.7% in October from year earlier
  • Naphtha use rose 15% as petrochemical plants boost run rates
Oil Facilities And Services Ahead Of Final Year Figures After Demonetization Induced Fluctuation
Photographer: Dhiraj Singh/Bloomberg
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India reported its first yearly increase in petroleum consumption since February, proving the fuel-guzzling nation’s demand is back despite rising coronavirus cases.

Total petroleum demand rose 2.7% year-on-year in October, reaching 17.8 million tons, according to provisional data published by the oil ministry’s Petroleum Planning & Analysis Cell. Road fuels reached pre-pandemic levels, but it was demand for naphtha that really soared. Consumption of the petrochemical industry feedstock surged 15%.