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India’s Crude Imports From The Middle East Rise

Oil

India’s crude oil imports from the Middle East in April increased by 325K b/d m-o-m and 150K b/d y-o-y to 2.98M b/d, Reuters reports, citing tanker arrivals data. The rise was driven by record high imports from Iraq of 1.04M b/d. In contrast, imports from the Caribbean and Latin America dropped by 201K b/d m-o-m and 4K b/d y-o-y to an 8-month low of 563K b/d. Imports from West Africa also fell, declining by 77K b/d m-o-m and 181K b/d y-o-y to a 5-month low of 540K b/d.