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Market Chatter: India Raises LPG Output 20% Amid Festive Demand, Gulf Supply Disruptions

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India's state-owned refiners have raised liquefied petroleum gas production by 20% over August levels to about 44,000 metric tons a day as festive-season demand rises and conflict in the Persian Gulf disrupts supplies, Bloomberg reported Wednesday.

India, the world's second-largest LPG importer, has reportedly sought to reduce its reliance on the Middle East by increasing domestic production and sourcing more cargoes from the US and Africa.

State refiners may issue a tender this month for US term supplies covering as much as 20% of next year's imports as Gulf supply uncertainty persists.

India's Ministry of Petroleum and Natural Gas did not immediately respond to a request for comment from.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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