India’s monthly fuel demand in September was at the lowest since November 2021, government data released on Friday showed.
Total monthly fuel demand in September fell 3.6% from August, although it was up 8.1% when compared with September 2021.
“When we look at the drop in Indian oil demand, part of it had to do with seasonal maintenance of the refineries, not necessarily a softening of the economy,” said Phil Flynn, analyst at Price Futures Group in Chicago.
