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India’s February CPP Exports, Crude Imports Drop Y-o-Y

Oil

India’s CPP exports rose 64K b/d m-o-m to 1.07M b/d in February, but were still 295K b/d lower y-o-y, data from the country’s Petroleum Planning and Analysis Cell showed. Exports of diesel and gasoline were down 110K b/d and 20K b/d y-o-y to 500K b/d and 294K b/d respectively. Shipments of naphtha and kerosene also fell y-o-y by 120K b/d and 30K b/d to 135K b/d and 138K b/d.

Meanwhile, at 4.48M b/d, India’s crude imports in February dropped 170K b/d m-o-m and were 140K b/d lower y-o-y.

By early afternoon in London, ICE Brent was trading at $68.27/bbl down $0.23/bbl from the end of Wednesday’s trading.