IOC expects diesel demand to recover in 6 months
Updated : November 12, 2019 10:20 AM IST
India's diesel demand is expected to recover in the next six months as a longer-than-usual monsoon season that affected transportation and industry has ended, the chairman of top domestic refiner Indian Oil Corp (IOC) said on Monday.
Any longer-term slowdown in fast-growing India's fuel use could dim prospects for global oil demand.
India's fuel demand fell to its lowest in more than two years in September, with consumption of diesel at its weakest since January 2017.
Have you signed up for Primo, our daily newsletter?It has all the stories and data on the market, business, economy and tech that you need to know.
THANK YOU! You made our day. See you every morningYOUR EMAIL IS ON ITS WAY. Check your inbox for future updates.
To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more