India’s Crude Oil Imports Fall To 4-Month Low
India’s crude oil imports in May fell by 259K b/d m-o-m to 4.20M b/d, the lowest since January, according to data from the country’s Petroleum Planning and Analysis Cell (PPAC). Yet this was still up by 58K b/d from May 2016. In the year-to-date, India’s crude imports have averaged 4.28M b/d, down by 14K b/d y-o-y. One factor for the decline is increased maintenance work on facilities to upgrade fuel output to Euro-4 levels, which is focused around gasoil producing units, newswires report.