Organization of Petroleum Exporting Countries or OPEC stated in a latest monthly update that in May, India’s oil demand expanded by 110 thousand barrels per day (tb/d), y-o-y, up from an increase of 21 tb/d, y-o-y, seen the previous month, supported by transportation fuels and NGLs/LPG. In terms of specific products, gasoline demand posted a large increase in April of 91 tb/d, y-o-y, up from 49 tb/d, y-o-y, seen in the previous month. Gasoline demand was supported by an increase in vehicle sales, which increased by 8%, y-o-y, amid a rise in travel ahead of the monsoon season. Demand for NGLs/LPG rose by 90 tb/d, y-o-y, up from 56 tb/d, y-o-y, growth seen in April.
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