Data from the Petroleum Planning & Analysis Cell revised August consumption downward to 18.545 million metric tons from 18.606 million metric tons. This continued growth in India challenges the prevailing narrative among some analysts that crude prices near $100 have caused demand destruction in emerging Asian markets to balance the global oil market, as noted by market expert Rory Johnston.
Tuesday, October 20, 2026
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India Oil Demand Rebounds With 3.4% September Growth
Commodities14 days ago
Total oil usage in India reached 19.259 million metric tons in September, the largest volume ever recorded for that month. Demand increased 3.4% from a year earlier, with gasoline and diesel consumption jumping 8.0% to 3.669 million metric tons and 5.6% to 7.164 million metric tons, respectively. Other shifts included a 17.2% rise in bitumen to 0.594 million metric tons and a 5.2% increase in pet coke to 1.573 million metric tons, though naphtha usage plummeted 31.0% to 0.697 million metric tons.
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