Asia Pacific: Production
India and China increased their output gains during the spring.
Strong output from Oil and Natural Gas Corp. (ONGC) has supported increased growth in India’s gas production this year. Although the country’s output was below target in May, it was up by 4% on an annual basis. ONGC increased its production by 10% on an annual basis during the month – the strongest performance of India’s major producers – and accounted for 71% of India’s overall output in May. ONGC is looking to increase its production this year, which will support gains in India’s total output if realised. However, even if production rises on an annual basis this year, India’s supply/demand gap is still expected to widen as the country’s output will not keep pace with increases in demand.
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