Indian refiners’ crude oil processing in December rose about 4% from a year earlier, provisional government data showed, in line with elevated demand in the world’s third-biggest oil importer and consumer.

Crude oil production last month was at 586,700 barrels per day (2.48 million tonnes), down nearly 1.2% year on year, the data showed, on lower output at certain Oil and Natural Gas Corporation clusters.

“Discounted crude oil from Russia will help refiners boost runs,” said Ehsan Ul Haq, an analyst from Refinitiv.

Processing in November fell to 19.58 million tonnes, while crude oil production was 586,000 bpd, down 1.1% versus last year, the data from the Ministry of Petroleum and Natural Gas showed.

Natural gas output rose 1.9% to 2.95 billion cubic metres year on year, the data showed.
Source: Reuters