A reduction in the production of refined petroleum products in Europe has led to an increase in demand from foreign buyers.
The supply of petroleum products from India has reached its highest level in the last 2.5 years – since March 2022. The reason for this is the reduction in the production of petroleum products in Europe, which has led to an increase in demand from foreign buyers, particularly from African countries.
This was reported by Bloomberg news agency.
The supply of diesel, gasoline and jet fuel from the world’s fourth-largest refinery rose to 1.5 million barrels per day in September, up about 39% from a year earlier.
While India is a major importer of crude oil, with refineries largely set up to cater to domestic consumption, private refiners also meet the large demand for oil exports.
With flows from India, product exports to Africa hit a record 380,000 bpd.
As we have already written, India will refuse to buy liquefied natural gas under the Arctic LNG 2 project because of sanctions.
Source: korrespondent
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