Indian filters are being added to the September demand.

An employee enters the Esar Oil refinery in Vadina, West Gujarat, India, October 4, 2016 REUTERS / Amit Dave / File Photo

  • Refined refineries’ crude oil volume in September was 2.9% y / y
  • Indian filters performed at 88.69% capacity in September
  • High fuel prices could affect demand recovery – analyst

October 22 (Reuters) – Indian refineries’ crude oil prices rose in September compared to last month, government data showed on Friday, as refineries boosted production to meet growing demand.

Filters produced 4.45 million barrels (BPD) (18.21 million tons) of crude oil per day last month, the lowest in 10 months compared to 4.36 million BPD in August.

Referral analyst Ihsan al-Haqq said, “Filters are growing to meet demand during the festive season. The demand is expected to increase compared to previous months.”

In September, crude oil production increased by 2.9% and crude oil production fell by 1.7% to 600,000 BPD (2.44 million tons), according to the report.

Indian filters remained at an average capacity of 88.69 percent in September, up 86.89 percent from August.

India Reliance Industry Limited (RELI.NS), the world’s largest refining operator, imported about 12% more oil at 1.2 million BPD in September compared to August.

“Coal shortages lead to the conversion of some fuels into oil-related products, which in turn encourages refineries to increase runoff.

As the economy grew, India’s September oil consumption rose sharply, but rising global oil prices threatened a recovery for the world’s third-largest oil importer and consumer. Read more

Last month, India indicated that rising oil prices could speed up the transition to alternative energy sources. Read more

Meanwhile, natural gas production has increased by 26.6% to 2.90 billion cubic meters, according to the report.

Mark Potter Correction by Bengalru Report by Bridgesh Patel and Bharat Govind Gautham

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