India’s crude imports ease in April

Oil

India’s crude oil imports declined by 50K b/d m-o-m and 440K b/d y-o-y to 4.85M b/d in April, a three-month low, data from the Petroleum Planning and Analysis Cell (PPAC) shows. Clean oil product exports fell by 240K b/d m-o-m to 1.09M b/d, with shipments of diesel decreasing by 120K b/d m-o-m to 470K b/d, the lowest since April 2021. Naphtha exports also declined by 40K b/d m-o-m to 100K b/d, easing after previously reaching a nine-month high in March.