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OIL: India Crude Imports Rose 1.5% y/y in December: PPAC

OIL
IndiaEnergy BulletsBulletAPACCommodities

India’s crude oil imports in December rose by 1.5% year on year to 19.99m tons compared to 19.07m tons in November, according to provisional data from the oil ministry’s Petroleum Planning & Analysis Cell.

  • Imports have been holding between 18.88m tons and 20.18m tons since June 2024.
  • Total oil exports were down 1.5% year on year to 5.755m tons but 7.7% higher than in November.
  • Diesel exports fell by 12.5% year on year to 2.489m tons but up 8.7% m/m.
  • Gasoline exports rose 23.4% on the year to 1.473m tons and up 18.7% from last month.
  • Data released earlier this month showed fuel consumption in India, the world's third-biggest oil importer and consumer increased by 1.0% m/m and 2.1% year-on-year in December to the highest since May at 20.67m metric tons.
  • India’s oil ministry estimates oil product consumption rising to a record 252.93m tons in the fiscal year from April 1. The estimated increase is led by transport fuel with diesel +2.8%, gasoline +6.6% and jet fuel +9.8%.
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India’s crude oil imports in December rose by 1.5% year on year to 19.99m tons compared to 19.07m tons in November, according to provisional data from the oil ministry’s Petroleum Planning & Analysis Cell.

  • Imports have been holding between 18.88m tons and 20.18m tons since June 2024.
  • Total oil exports were down 1.5% year on year to 5.755m tons but 7.7% higher than in November.
  • Diesel exports fell by 12.5% year on year to 2.489m tons but up 8.7% m/m.
  • Gasoline exports rose 23.4% on the year to 1.473m tons and up 18.7% from last month.
  • Data released earlier this month showed fuel consumption in India, the world's third-biggest oil importer and consumer increased by 1.0% m/m and 2.1% year-on-year in December to the highest since May at 20.67m metric tons.
  • India’s oil ministry estimates oil product consumption rising to a record 252.93m tons in the fiscal year from April 1. The estimated increase is led by transport fuel with diesel +2.8%, gasoline +6.6% and jet fuel +9.8%.