Only the farmer bats for India as eight core sectors shrink 9.6%

Only the fertiliser industry continued to grow through the worst of the Covid months

Oil struggles to hold five-month high amid growing demand fears

Investors remained wary of rising refined product inventories at a time when US bankers said rise in cases was slowing the economic recovery

The potential hit to demand comes as OPEC+ countries, are set to step up output in August, adding about 1.5 million bpd to global supply

Oil demand has improved somewhat from the deep trough of the second quarter, supporting prices, although the recovery path is uneven

Imports from Saudi Arabia rose to 8.88 million tonnes or 2.16 million bpd in June

Industry group American Petroleum Institute reported U.S. crude inventories rose last week by 7.5 million barrels

OPEC and allies including Russia have pledged to slash production by a record 9.7 million barrels per day (bpd) for a third month in July

The EIA data showed that gasoline imports hit the highest level since last August and peaked the most on a seasonal basis in nine years

The prospect of increased US crude production also kept a lid on gains on Friday

Oil products imports eased 0.8% to 3.57 million tonnes year-on-year, while exports rose by 5.9% to 5.75 million tonnes