India’s fuel sales surged in May from a year earlier and from April to new highs, suggesting that oil demand in the world’s third-largest crude importer is strengthening and could outperform expectations. Last month, India’s overall fuel sales—often seen as a proxy of demand—rose by 9% in May compared to the same month of 2022, according to government data cited by Bloomberg. Sales of diesel—the most widely used fuel in India—jumped by 13% year-on-year, and gasoline sales surged by 11%, both registering…
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