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India Oil Trade in June 2013

Source: OPEC 7/20/2013, Location: Asia

In May, India’s crude imports declined by 342 tb/d or 9% from the previous month to average 3.5 mb/d. India’s crude imports in May are the lowest since August 2012. Additionally, crude imports reflect an annual drop of 180 tb/d or 5%.

India’s May product imports saw a decrease of 20 tb/d or 6% m-o-m to average 297 tb/d, while y-o-y they decreased by 44 tb/d or 13%. The decrease seen in product imports comes mainly as a result of decreased volumes in fuel oil, which dropped by 12 tb/d or 46%, as well as declines in naphtha, LPG and diesel, which all fell by 3% from one month earlier. India’s product exports declined in May by 73 tb/d or 5%, to average 1.27 mb/d. On a y-o-y basis, product exports increased by 152 tb/d or 13%. A drop in product monthly exports was registered for both diesel and fuel exports. Consequentially, India’s net imports declined by 289 tb/d to average 2.5 mb/d, reflecting a drop of 10% m-o-m and 13% y-o-y.

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