Indian Oil Corp, India's state-run national oil company, experienced increased production in March, according to data released by the Ministry of Petroleum & Natural Gas in New Delhi, Fox Business said on Tuesday. Oil production numbers were up 7.46 percent from the previous month due to strong demand for transportation fuels.
Meanwhile, petroleum product consumption for March was higher at 5.1 percent increase year-on-year at 13.499 mt. Diesel sales ticked up 10.3 percent, while petrol consumption was higher 11.5 percent. Naphtha and natural gas combined saw a rise of 19.5 percent year-on-year.
India currently imports over 2.4 million barrels of oil per day, and of that, approximately 0.75 million barrels come from domestic supplies.
For comments and feedback contact: editorial@rttnews.com
Market Analysis
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.