State run refiner Indian Oil Corporation (IOC) on Thursday said crude oil throughput at its refineries rose to 100 per cent in November, with demand for petroleum products now close to pre-Covid levels.
“Consumption of all petroleum products has almost reached pre-Covid levels,” IOC said in its statement. It added, IOC’s refining utilisation in October was at 88 per cent and at 99 per cent in November 2019.
IOC noted demand for petrol is now higher than last year. In November, IOC said, sale of petrol was at 1.06 million tonne (MMT), 4 per cent higher compared to the year ago period. Liquified petroleum gas (LPG) demand, IOC said, is up 1.4 per cent year on year.
S M Vaidya, chairman of IOC, expects a V-shaped recovery in demand for petroleum products. “The Indian economy continues to witness the green shoots of revival.
