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India Oil Trade in August 2013

Source: OPEC 9/18/2013, Location: Asia

In July, India’s crude imports averaged 3.77 mb/d, 219 tb/d, or 6% higher than the level seen last month. On an annual basis, the increase is equal to 319 tb/d or 9%. Product imports saw an increase by 28 tb/d or 10% from a month ago to average 314 tb/d. Y-o-y, this reflects a drop of 32 tb/d or 9%. The monthly increase in product imports came mainly as a result of increased imports of naphtha, LPG and fuel oil, while diesel sales and imports declined in July as monsoon rains limited the need for dieseloperated pumps.

In terms of exports, India’s products increased in July by 127 tb/d from the previous month to average 1.4 mb/d, while they increased by 144 tb/d or 12% a year earlier. Monthly exports of petrol dropped by 4% from the previous month while all other product exports increased by a percentage ranging between 0.3% to 27%.

Consequentially, India’s net imports increased by 119 tb/d to average 2.7 mb/d or 5% higher than last month and a year ago.

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