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Petroleum export earnings decline as crude prices fall
Mint Mumbai
|November 29, 2023
India, having expanded the export markets for refined petroleum products, saw a steep fall in earnings from petroleum shipments in the April-October period this year due to declining crude oil prices, global economic slowdown, a rise in domestic consumption, and shrinking discounts on Russian oil.
According to data from the government’s Niryat portal, the export value of petroleum products stood at $45.56 billion in April-October 2023, down 17.84% from $55.45 billion in the year-ago period.
Petroleum exports to South America, Africa, South Asia, West Asia-North Africa (WANA) and South-east Asia saw a decline in value terms.
Cette histoire est tirée de l'édition November 29, 2023 de Mint Mumbai.
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