India oil data – Mar 2019

Published at 15:22 2 May 2019 by . Last edited 11:18 22 Aug 2019.

Users licensed for the data service can access our India oil data.

Indian oil demand in March eased m/m from a record high to 4.75 mb/d but was higher y/y by 62 thousand b/d despite a strong base. Light ends led the way, with combined gasoline, naphtha and LPG demand surging y/y by 0.16 mb/d. Support partly came from government measures, including a February promise of tax cuts and financial support worth $2.8 billion to the owners of 120 million small and medium-sized farms by 31 March. Gasoline demand rose by 48 thousand b/d y/y to a record high 0.71 mb/d in March despite car sales remaining weak (sales of passenger vehicles slid by 3% y/y in March based on data for the main auto manufacturers). Diesel demand was flat m/m at 1.80 mb/d in March, with y/y growth at 25 thousand b/d. Construction activity, supported by the government’s social housing project, remained the key diesel demand driver. Across Q1 19, cement demand rose by 9.5% y/y on strong construction activity, jet demand was 11 thousand b/d higher y/y on 15% y/y passenger growth, while kerosene demand logged its first y/y growth (by 2 thousand b/d) since August 2018.

Refinery runs were up m/m by 62 thousand b/d to a near record high 5.32 mb/d (+0.33 mb/d y/y) despite a 54 thousand b/d m/m increase in CDU maintenance. Runs in Q1 19 averaged 5.26 mb/d, higher y/y by 45 thousand b/d. We expect runs in April likely fell m/m, weighed on by an unplanned outage at HPCL’s Mumbai refinery since 8 April, and runs in May will be kept in check by planned works at Koyali and HPCL’s Mumbai refinery in May for around 20 days. Crude stocks fell by a sharp 0.15 mb/d, with Q1 19 draws averaging 40 thousand b/d, driven by low imports

Log in to download

Other Data review publications

Rig report

Published 2 days ago

No cover
Within this report you will be able to review the latest figures published by Baker Hughes by oil..

Read more

US Department of Energy

Published 4 days ago

2019-12 Oil - Data review - US Department of Energy cover
Users licensed for the data service can access our US crude balances.Extract from..

Read more

Brazil oil data – Oct 2019

Published 6 days ago

2019-12 Oil - Data review - Brazil oil data – Oct 2019 cover
Users licensed for the data service can access our Brazil oil data.Brazil’s..

Read more

Russia and FSU – Oct/Nov 2019

Published 1 week ago

2019-12 Oil - Data review - Russia and FSU – Oct/Nov 2019 cover
Users licensed for the data service can access our Russia and FSU oil data.Russian..

Read more

US demand – Sep 2019

Published 1 week ago

2019-11 Oil - Data review - US demand – Sep 2019 cover
US oil demand rose in September by 0.14 mb/d y/y to 20.2 mb/d, a 0.72 mb/d downward revision from..

Read more