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India's crude imports from West Africa fall

Oil

India's crude oil imports fell to a three-month low in September of 3.8M b/d, according to the country's Petroleum Planning and Analysis Cell. Reuters reports that West Africa experienced the largest nominal decline among the country's major suppliers, with volumes falling 265K b/d m-o-m and 162K b/d y-o-y to 681K b/d. This was driven by a drop in Angolan imports, which slipped 123K b/d m-o-m and 166K b/d (72%) y-o-y to 65K b/d. Imports from the Middle East Gulf decreased by 98K b/d m-o-m but were up 161K b/d y-o-y to 2.2M b/d, with Iraq becoming the country's largest crude source for the third month in 2015. Imports from the Caribbean and Latin America were down marginally on the month and dipped 56K b/d compared with the same month last year to 701K b/d.