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News X

India's crude imports jump to four-month high

Oil

India's crude oil imports in May climbed by 351K b/d m-o-m and 612k b/d y-o-y to average 4.14M b/d, according to preliminary data from the country's Petroleum, Planning and Analysis Cell. This is first time monthly imports have risen above 4M b/d since January 2015, when imports averaged 4.19M b/d. During May, India's exports of diesel and gasoline rose to their highest levels since February at 357K b/d and 363K b/d respectively. This is the first time gasoline exports have been higher than diesel exports since July 2014.