{"id":306670,"date":"2019-12-21T12:16:57","date_gmt":"2019-12-21T06:46:57","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=306670"},"modified":"2019-12-21T12:16:57","modified_gmt":"2019-12-21T06:46:57","slug":"petroleum-consumption-growth-to-hit-6-year-low-these-are-key-concerns","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/petroleum-consumption-growth-to-hit-6-year-low-these-are-key-concerns\/","title":{"rendered":"Petroleum consumption growth to hit 6-year low; these are key concerns"},"content":{"rendered":"<p>India expects its oil consumption to expand at the slowest pace in six years as the economy sputters. The nation\u2019s consumption of petroleum products in the financial year to March 2020 is expected to rise by 1.3% to 216 million tons, the oil ministry\u2019s Petroleum Planning and Analysis Cell said in its estimates. That\u2019s the slowest since the 0.9% demand growth in 2013-14, when crude oil averaged over $100 a barrel.<\/p>\n<p>Slowing consumption growth reflects a widespread slump in demand for goods from cars to houses. India\u2019s economic growth is at a six-year low and latest data shows the country\u2019s industrial production contracted for a third straight month in October, mainly dragged down by energy-intensive industries such as capital goods, infrastructure and construction goods.<\/p>\n<p>Earlier this month, Fitch Solutions slashed its 2020 forecast for India\u2019s oil demand growth to 3% from an earlier estimate of 5% because of weaker economic growth prospects in the coming quarters. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>India expects its oil consumption to expand at the slowest pace in six years as the economy sputters. The nation\u2019s consumption of petroleum products in the financial year to March 2020 is expected to rise by 1.3% to 216 million tons, the oil ministry\u2019s Petroleum Planning and Analysis Cell said in its estimates. That\u2019s the slowest since the 0.9% demand growth in 2013-14, when crude oil averaged over $100 a barrel. Slowing consumption growth reflects a widespread slump in demand for goods from cars to houses. India\u2019s economic growth is at a six-year low and latest data shows the country\u2019s [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,195,138],"tags":[],"class_list":["post-306670","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-financial-express","category-the-financial-express"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/306670","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=306670"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/306670\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=306670"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=306670"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=306670"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}