The strong demand for oil products will continue and may stay above 5 per cent in the medium term, driven by demand for three key items – petrol, diesel and cooking gas, said a report.
The positive forecast comes even though demand uptick has almost halved to 2.6 per cent in the first four months of the current fiscal year from 5.6 per cent a year ago.
“We expect demand for key products — petrol, diesel and liquefied petroleum gas — to remain strong and this will ensure that the overall demand growth will remain around 5 per cent over the medium term due to continued growth in auto sales led by cars and two-wheelers and the overall economic growth,” said the report by Fitch Ratings. Read More…
Latest posts by ET Energy World (see all)
- Summit Group Plans Singapore Listing For Power Unit By April – Chairman - February 24, 2018
- ET GBS: PMModi Hails India’s Growth Citing Key Macroeconomic Indicators - February 24, 2018
- Oil From Sunken Iran Tanker Reached Japan Shores: Coast Guard - February 23, 2018