Commodities Buzz: India Crude Oil Production Falls 3.8% In July

24 Aug 2022 , 11:14 AM

India s crude oil production during July 2022 was 2453.19 TMT, which is 5.57% lower than target for the month and 3.76% lower than the production of July 2021, government data from the Ministry of Petroleum and Natural Gas showed. Cumulative crude oil production during April-July, 2022 was 9912.42 TMT, which is 2.17% lower than target for the period and 0.50% lower than production during corresponding period of last year respectively. ONGC-operated oilfields pumped 1.7 percent less crude in July 2022 due to lower production from offshore western India. Oil output at private firm-operated oilfields slumped by 12.34 percent year over year in July, according to the data. Refinery processing ran very strong in both July and April-July this year. Last month, Indias refineries operated at over 100 of their capacity, compared to 91.58 percent utilization in July 2021. Powered by Commodity Insights