India’s refinery throughput edged down in January, with crude processing slipping 0.2% month-on-month to 5.63 million barrels per day, or 23.81 million metric tons, after December’s 5.64 million bpd. Weaker refinery runs and a sequential dip in fuel consumption to 21.05 million tons, despite a near 3% year-on-year demand increase, add a cautious note for global crude benchmarks such as Oil – Brent Crude and Oil – US Crude, given India’s heavy reliance on imported supply from key producers.
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Over the past month, Oil – US Crude has advanced about 8.24%, reflecting tighter balances and demand resilience, while its 1-day technical outlook screens as a short-term Buy. Oil – Brent Crude has gained roughly 8.64% in the same period, and its near-term chart setup likewise points to a Buy bias, suggesting traders currently expect Indian demand softness to be transitory rather than structural. Investors can explore more updates, prices, and analysis across global markets at Commodities.