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Market Bytes News |
| India's September fuel demand posts first monthly gain since June (Sunday, October 11, 2020) |
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India’s fuel demand in September rose for the first time since June as easing coronavirus restrictions supported economic activity and travel, but consumption remained weaker than a year earlier, government data showed on Friday. Consumption of refined fuels, a proxy for oil demand, rose 7.2% in September from the prior month to 15.47 million tonnes, the first monthly increase since June when demand rose to 16.09 million tonnes. However, demand fell 4.4% from the same period a year earlier, posting its seventh consecutive year-on-year slide, data from the Petroleum Planning and Analysis Cell (PPAC) of the Ministry of Petroleum & Natural Gas showed. |