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India Oil Trade in November 2014

Source: OPEC 11/27/2014, Location: Asia

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In September, Indian crude imports remained at the same level seen a month earlier to average 3.8 mb/d. Furthermore, crude imports reflected an annual gain of 119 tb/d or 3%. Product imports in September increased by 57 tb/d from the previous month to average 500 tb/d while y-o-y they grew by 44 tb/d. Local Indian product sales went up by 2.9% in September on an annual basis. Monthly products imports were mainly higher in LPG, which increased by 25% over a month earlier. India’s product exports were 236 tb/d, or 18%, higher in September to average 1.5 mb/d. On a y-o-y basis, product exports were 250 tb/d, or 14%, lower than last year. India’s monthly product exports were higher in all products except for fuel oil, which declined by16 tb/d from last month. Consequently, India’s net imports declined by 178 tb/d to average 2.75 mb/d, reflecting a drop of 6% m-o-m yet still reflecting a y-o-y gain of 413 tb/d or 18%.

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