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India’s crude oil imports rise to five-month high

Oil

India’s crude oil imports increased by 190K b/d m-o-m and 590K b/d y-o-y to 4.3M b/d in September, the highest level since April, according to data from the Petroleum Planning and Analysis Cell (PPAC). Total clean oil product exports rose by 70K b/d m-o-m, supported by shipments of diesel which increased by 70K b/d m-o-m to 690K b/d. Loadings of gasoline declined by 10K b/d m-o-m to 240K b/d however, falling for the fourth month in a row to the lowest level since October 2020.