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India Oil Trade in April 2013

Source: OPEC 5/17/2013, Location: Asia

India’s crude oil imports dropped In March both on a monthly and on an annual basis. The drop is equal to 75 tb/d or 2% m-o-m, while y-o-y it saw a slight decline of 9 tb/d or 0.3%, to average 3.60 mb/d. The monthly imports in March were the lowest since August 2012.

India’s product imports increased in March by 36 tb/d or 14% to average 297 tb/d, representing a marginal annual increase of 2 tb/d or 0.8%. The monthly gain came as a result of increased imported volumes of naphtha and LPG, while no diesel imports were observed in March.

Indian product exports reflect a gain both in monthly and annual comparisons. In March, Indian product exports increased by 4% to average 1.4 mb/d, while they are expected to be equal at 76 tb/d or 5.5% from a year earlier. All products saw an increase in exported volumes during the month, however the largest increase was seen in fuel oil and diesel, which rose by 9% and 18%, respectively. Thus, Indian net trade imports declined by 99 tb/d or 4% m-o-m, while y-o-y they declined by 83 tb/d or 3% to average 2.4 mb/d.

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