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India’s Crude Imports From West Africa Fall To 31-Month Low But FSU Imports Climb

Oil

India’s crude oil imports from West Africa in May fell by 113K b/d m-o-m to a 31-month low of 428K b/d, Reuters reports, citing tanker arrivals data. Imports from the Middle East were also down, declining by 191K b/d from April to a 2-month low of 2.79M b/d. This included the lowest imports from Iran since June 2016 of 488K b/d. In contrast, imports from the FSU climbed by 50K b/d (or almost 50%) m-o-m to a multi-year high of 154K b/d, supported by growth in crude supplies from Russia. Other regions which saw a m-o-m increase were i) the Caribbean and Latin America (+48K b/d to a 2-month high of 610K b/d) and the Mediterranean (+49K b/d to an 8-month high of 150K b/d).