India's petroleum exports dip in Nov

During the April-to-November period, petroleum product exports amounted to $44.61 billion

- Rhik Kundu & Rituraj Baruah

Exports of petroleum products took a hit in November, weighed down by sluggish demand in developed economies, a rise in domestic consumption and a significant decline in cheap petroleum imports from Russia.

During the April-to-November period, petroleum product exports amounted to $44.61 billion, a sharp drop from $55.02 billion in the same period last year, according to data from the ministry of commerce and industries.

These exports stood at $3.72 billion in November, down from $7.39 billion in the year-ago period.

Experts also attribute the downturn to softening demand in key markets and logistical disruptions along major supply routes, particularly in the Red Sea.