INSUBCONTINENT EXCLUSIVE:
changed from the previous month when it fell to multi-month lows as a severe second wave of coronavirus restrained demand, forcing refiners
This compares with 4.49 million barrels per day (bpd) processed in May, which was the lowest since October 2020.Crude oil imports also fell
previous two months, data obtained from trade sources showed.Refineries' crude oil throughput last month was still 4.7 per cent higher
India's fuel demand also inched higher after slumping to a nine-month low in May as many states in the world's third-biggest oil
pre-pandemic levels in the first fortnight of July, preliminary industry data showed last week."With a further likely easing of mobility
restrictions, I would expect oil demand to recover further, resulting in higher refinery processing rates down the road," UBS analyst
refiner, Indian Oil Corp (IOC), last month operated its directly owned plants at 93.53 per cent capacity, as per the data
tonnes), data from the Ministry of Petroleum and Natural Gas showed.(Except for the headline, this story has not been edited by
TheIndianSubcontinent staff and is published from a syndicated feed.)
