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India Oil Trade - April 2016

Source: OPEC 4/25/2016, Location: Asia

In February, India’s crude imports averaged 4.3 mb/d, slightly up from a month ago and the highest since February 2014. Imports have also increased by 865 tb/d or 26% from a year ago. Refinery runs showed no significant change from a month ago.

Product imports declined from the previous month by 42 tb/d, or 6%, to average 633 tb/d, though they were up y-o-y by 72 tb/d, or 13%. The monthly product import drop was seen in all main products.

The country’s product exports increased in February by 139 tb/d, or 10%, from the previous month to average 1.6 mb/d and by 236 tb/d from a year before. Exports of all products rose in February on both a monthly and an annual basis, with the exception of kerosene exports, which remained as they were a month before. Consequentially, India’s net imports declined by 179 tb/d to average 3.3 mb/d.

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