India’s oil demand hits record high

Omkar Godbole FXStreet Contributor

According to oil ministry data, India’s oil consumption soared 11% to the record high in 2016.

India’s oil consumption increased to 196.5 million tons last year from 177.5 million tons in 2015.

Meanwhile, Saudi’s Aramco cut February term crude oil loadings to some buyers in India and Southeast Asia.

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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