India’s diesel exports tumble in April

Oil

India’s diesel exports decreased by 270K b/d (or 37%) m-o-m and 380K b/d (or 45%) y-o-y to 460K b/d in April, falling to the lowest level since January 2019 after previously reaching an eleven-month high in March, according to Argus reporting on data from the Petroleum Planning and Analysis Cell (PPAC). Loadings of gasoline and jet fuel also declined by 90K b/d m-o-m to 260K b/d and 30K b/d m-o-m to 70K b/d respectively. Crude oil imports increased by 140K b/d m-o-m and 420K b/d y-o-y to 4.46M b/d, rising to a three-month high after falling to a five-month low during March.