Oil consumption witnessed a year-on-year drop of 11 per cent in December and 19pc in 1HFY23 as demand for diesel, petrol and furnace oil remained depressed amid higher prices and plunging auto sales due to an overall economic slowdown. Oil sales dipped to 1.34 million tonnes in December 2022 from 1.507m tonnes in the same month last year. This is the lowest monthly sales number since the first