India's Diesel Exports Hit 13-Month High as Refiners Cash In
India's diesel exports reached a 13-month high in October, rising 19.6% month-on-month. Refiners are benefiting from global supply disruptions linked to the Iran war and Russia-Ukraine conflict. Reliance Industries accounted for nearly 78% of the exports, amid strong overseas demand.
Context
Refiners can sell abroad when overseas demand is strong, which can leave less fuel for the home market. Reliance Industries is India's largest private-sector refiner, with major plants in Gujarat.
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