Petro refinery products outlook subdued: Report

Production of refinery products include motor spirits, high speed diesel, naphtha, LPG, bitumen, petcoke and lubes. The country is a net exporter of such products

Production of petroleum refinery products is expected to remain subdued in the short-term after the hike in global crude oil prices.

A report by Care Ratings has predicted tepid performance for the petroleum refinery segment in the country as both OPEC producers and Russia have decided to limit production of crude oil at 1.8 million barrels per day to stabilize the global supply glut.

During April-October of this fiscal, the performance of the petroleum refinery segment was subdued with 2.9 per cent growth compared with eight per cent growth in the year-ago period.

Production of refinery products include motor spirits, high speed diesel,