India’s diesel exports to weigh on Asia’s refining margins

Higher diesel exports from India will likely weigh on refining profit margins in Asia, analysts and traders said, as fuel demand growth is set to fall to its lowest in at least six years as the country’s economy stutters.

India’s state-owned refiners, such as Indian Oil CorpNSE 0.63 % , Bharat PetroleumNSE -0.23 % Crop and Hindustan PetroleumNSE 0.48 % Corp, used to buy in supplies from private companies to meet demand at the pump.