India’s crude oil imports crash to lowest level since 2011

Oil

India’s crude oil imports decreased by 400K b/d m-o-m and 1.7M b/d y-o-y to 2.9M b/d in July, the lowest level since March 2011, according to data from the Petroleum Planning and Analysis Cell (PPAC). Refinery throughput also declined by 100K b/d m-o-m and 970K b/d y-o-y to 4.18M b/d m-o-m, as oil demand remains suppressed by lockdown restrictions which are currently due to end on August 31, however a recent surge in coronavirus cases could result in this date being extended, newswires report.