With gradual demand recovery, IOC rolls back refinery production cuts

The company on Monday said it has raised utilisation to 60 per cent, and plans to scale it up further by Month end

With the demand for petroleum products starting to recover, state-run Indian Oil Corporation (IOC) has started a roll-back of throughput cuts taken in the last two months. The company on Monday said it has raised utilization to 60 per cent, and plans to scale it up further by Month end. 

IOC had to curtail throughputs and bring operations down to nearly 45 per cent of design capacities by the first week of April owing to low demand for various products. 

“With the demand for petroleum products gradually