Refined petroleum products export rose 12% to $3.3 bn in October: PPAC

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Refined petroleum products export rose 12% to $3.3 bn in October: PPAC - Business Standard

Quick Summary:

Globally, supplies have continued to rise despite ongoing production cuts by the Organization of the Petroleum Exporting Countries (OPEC).

The data is likely to cheer policymakers, given expectations of falling market demand in the last months of 2024 amid higher supply and decelerating demand in China and elsewhere.

Exports in the category have increased by 4.2 per cent to 36.8 MMT in the first seven months of FY25, mostly on account of a broad-based increase in exports of petcoke, petrol, and aviation turbine fuel.