Page 4 - Indian Oil Demand
Note ban impact: India oil demand in Q1 grew only 0.4% versus China's 2.2%
Indian oil demand, says a report from Platts Analytics, rose a marginal 0.4 per cent during the first quarter (Q1) of 2017, as against 2.2 per cent in China. Demonetisation is given as the key reason. The earlier expectation for 2017 was six to seven per cent growth in Indian demand, versus about two per cent for China."The sudden announcement by the Modi government of thedemonetisation exercise late last year has immobilised Indian oil demand, impacting industrial and consumer sectors, which suffered from the immediate removal of over 80 per cent of the existing currency," the report said. The decline was seen in fuel oil, gas oil and naphtha. Kerosene demand has also dropped with the government move tosubstitute it with liquefied petroleum gas (LPG) for cooking. Total kerosene sales in the quarter slumped 31 per cent year on year, to an average of 100,000 barrels a day.China's oil demand saw relatively robust growth for the six major products -- LPG, naphtha, jet fuel, gasoline ...
 "Note ban impact: India oil demand in Q1 grew only 0.4% versus China's 2.2%")
Demonetisation impact: India's oil demand shrinks compared to China in 2017
A report says India's expected oil demand growth was between 6-7% versus China's 2% in 2017
 "Demonetisation impact: India's oil demand shrinks compared to China in 2017")
India's fuel demand rose 6.2% in June
Sales of gasoline, or petrol, were 4.4% higher from a year earlier at 1.85 million tonnes
 "India's fuel demand rose 6.2% in June")
