India’s crude oil production continued its declining trend, falling by over 3 per cent in July as state-owned ONGC produced less than the target. As fuel demand rebounded, oil refineries processed more crude oil in July. At 19.4 million tonnes, crude processing in July was 9.6 per cent higher than the year-ago period.
According to data released by the ministry of petroleum and natural gas on Tuesday, the country’s crude oil production declined by 3.2 per cent in July to 2.5 million tonnes when compared with the previous year, and by 3.37 per cent in April-July to 9.9 million tonnes.
