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OIL: India Crude Imports Rose in August but Below May Record High

OIL
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India’s crude oil imports in August rose by 6.4% year on year to 19.9m tons compared to 19.4m tons in July, according to provisional data from the oil ministry’s Petroleum Planning & Analysis Cell. Imports have been trending higher from a low of 12.3m tons in mid 2020 and reached a record high of 22.0m tons in May 2024.

  • Total oil exports were down 13.7% year on year to 5.026m tons and 1.9% lower than in July.
  • Diesel exports fell by 19.7% year on year to 2.099m tons but up 0.8% from July.
  • Gasoline exports rose 0.3% on the year to 1.177m tons and up 10.5% from last month.
  • Data released earlier this month showed fuel consumption in India, the world's third-biggest oil importer and consumer, fell by 6.68% m/m and down 2.6% year-on-year to 18.35m metric tons in August led by a drop in diesel sales.
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India’s crude oil imports in August rose by 6.4% year on year to 19.9m tons compared to 19.4m tons in July, according to provisional data from the oil ministry’s Petroleum Planning & Analysis Cell. Imports have been trending higher from a low of 12.3m tons in mid 2020 and reached a record high of 22.0m tons in May 2024.

  • Total oil exports were down 13.7% year on year to 5.026m tons and 1.9% lower than in July.
  • Diesel exports fell by 19.7% year on year to 2.099m tons but up 0.8% from July.
  • Gasoline exports rose 0.3% on the year to 1.177m tons and up 10.5% from last month.
  • Data released earlier this month showed fuel consumption in India, the world's third-biggest oil importer and consumer, fell by 6.68% m/m and down 2.6% year-on-year to 18.35m metric tons in August led by a drop in diesel sales.