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India's October oil product exports rise 1.2% on year to 1.57 mil b/d

http://www.chemnet.com   Nov 20,2014 Platts
India's crude oil imports rose 3% year on year in October to 15.82 million mt, or an average of 3.74 million b/d, provisional data from the Petroleum Planning and Analysis Cell website showed Wednesday, November 19.

Crude imports were also 2.1% higher than 15.50 million mt imported in September.

India's oil product exports rose 1.2% on year to 6.20 million mt, or 1.57 million b/d, as sharp rises in gasoil and gasoline exports were offset by steep falls in fuel oil and jet fuel exports.

Gasoil exports jumped 19.4% on year to 2.82 million mt in October, and was 9.8% higher than September.

Gasoline exports rose 15.1% on year to 1.41 million mt in October, and was 0.9% higher than September.

India's oil product demand fell 1% year on year to 13.09 million mt, or 3.31 million b/d, as gasoil sales fell even as gasoline and LPG demand held steady.

The October demand was however, 4.9% higher over 12.48 million mt in September.

Gasoil sales fell 3% from a year ago to 5.45 million mt, but rose 11.2% from sales of 4.90 million mt in September.

India deregulated gasoil price on October 18, with a price cut followed by a second price cut by the end of the month.

Dealers have been running on low inventory in anticipation of a price cut, which would partly account for the weakness in gasoil sales in September and for part of October.

Gasoline sales rose 10.5% on year to 1.62 million mt in October, while LPG sales grew by 7.1% on year to 1.50 million mt.
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