India’s Oil Consumption Grows At Fastest Pace In 14 Months


India’s Oil Consumption Grows At Fastest Pace In 14 Months

Oil demand in India rose 10.3 percent in the first month of 2018, the fourth straight monthly gain.

Total oil consumption expanded at the fastest pace in 14 months to 16.9 million tons from 15.3 million a year ago, according to the oil ministry’s Petroleum Planning and Analysis Cell. Improvement in road freight transport following the stabilization of the new nationwide sales tax and growing use of cars and scooters boosted the consumption.

The growth in demand came over a low base as in January last year the nation’s oil consumption fell the most in 13 years following the government’s crackdown on high-value currency notes. Read More…

 

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