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OIL: Indian Oil Demand Slipped in November m/m: PPAC

OIL
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India's crude oil imports fell to 19.07 million metric tons in November, 3.2% down m/m according to PPAC data.

  • India's November crude imports showed Middle Eastern oil at a 9-month high while Russia accounted for its smallest share in three quarters LSEG said.
  • Some refiners reduced intake of Russian oil due to maintenance turnarounds at their plants and continued to lift committed volumes under annual contracts with Middle Eastern producers
  • Imports of oil products came in at 4.43 million tons in November, flat m/m.
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India's crude oil imports fell to 19.07 million metric tons in November, 3.2% down m/m according to PPAC data.

  • India's November crude imports showed Middle Eastern oil at a 9-month high while Russia accounted for its smallest share in three quarters LSEG said.
  • Some refiners reduced intake of Russian oil due to maintenance turnarounds at their plants and continued to lift committed volumes under annual contracts with Middle Eastern producers
  • Imports of oil products came in at 4.43 million tons in November, flat m/m.