India’s petroleum products’ exports surge 8% in July
India's petroleum product exports increased by 8% in July, driven by global supply shortages and favorable market conditions. Despite a windfall tax, Indian refiners are capitalizing on high diesel margins to supply international markets.
Why it matters
This demonstrates India's growing role as a critical energy supplier in the global market amidst shifting geopolitical supply chains.
NEW DELHI: India’s export of petroleum products recorded a year-on-year surge of over 8% in July, as margins improved amid a global supply shortage following Russia’s ban on diesel exports and ample supplies of crude to India during the US-Iran ceasefire.Govt data showed India exported 2.4 million tonnes (MT) of diesel in July this year, up from 2.2 MT in the corresponding month last year, while total petroleum product exports rose from 5 MT to 5.5 MT.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in