Indian Fuel Demand Bounces Back Ahead Of Festive Season

Oil product demand in India is picking up, and refiners are increasing refinery runs ahead of two of the country’s biggest festivals, Navratri and Diwali. Indian Oil Corp has boosted run rates from 66.7 percent in August to 86 percent, according to Bloomberg, with Bharat Petroleum operating at 85 percent of capacity and Hindustan Petroleum Corp operating at full capacity. “Diesel recovery is inching toward normal and the festivals and harvesting seasons will boost demand further,” said the former director of refineries at Bharat…