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State-Run Oil Refiners Plan To Cut Oil Imports From Saudi Arabia As Stand-Off Escalates: Report
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India to cut down oil imports from Saudi Arabia
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Synopsis
This is the first annual rise in gasoil sales in the country since October. Fuel sales in India took a hit in March last year as the government imposed a nationwide lockdown to curb the spread of the novel coronavirus.
Reuters
The rise in gasoil sales, which account for about two-fifths of the country s overall fuel demand, comes despite record-high local retail prices and points to rising industrial production in the country.
Indian state fuel retailers diesel sales rose 7.4 per cent to 2.84 million tonnes in the first fortnight of March from a year earlier, preliminary industry data showed on Tuesday.
Indian state fuel retailers' diesel sales rose 7.4% to 2.84 million tonnes in the first fortnight of March from a year earlier, preliminary industry data showed on Tuesday. Fuel sales in India took a hit in March last year as the government imposed a nationwide lockdown to curb the spread of the novel coronavirus. India's economy returned to growth in the three months to December and the recovery is expected to gather pace as consumers and investors shake off the effects of the COVID-19 pandemic.
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