Date: 11/06/2024

Petroleum products exports rise in May

India exported 1.24 million barrels per day of petroleum products in May, registering a marginal increase of 3.3% against 1.20 million barrels per day in April, data from ship tracking intelligence firm Vortexa showed. The country exports a variety of goods via the Red Sea including petroleum products. India’s export of petroleum products fell by 14% in FY24 to a value of $84.14 billion compared to $97.47 billion in FY23, according to government data. The slight uptick in the country’s exports in May also comes amidst rising domestic consumption of these petroleum products, majorly driven by growth in demand for diesel, aviation turbine fuel and liquefied petroleum gas. Consumption of petroleum products grew by 6% to 19.9 million tonnes in April, as per data from the Petroleum Planning and Analysis Cell. Exports, however, remained largely unchanged from the corresponding period of last year at 1.25 million barrels per day, said a report.
source: Exim News Service: New Delhi, June 10