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India Oil Trade - November 2016

Source: OPEC 12/7/2016, Location: Asia

In September, India’s crude imports dropped from the previous month by 142 tb/d, to average 4.3 mb/d. Nevertheless, crude imports reflected an annual gain of 448 tb/d, or 12%.

Product imports in September increased by 73 tb/d from the previous month to average 789 tb/d, an increase y-o-y of 172 tb/d. Monthly product imports were mainly higher in LPG, where an increase of 11% was seen over a month ago.

India’s product exports remained high in September, rising from a month earlier by 36 tb/d, or 2%, to average 1.6 mb/d. Y-o-y, product exports were up by 208 tb/d or 15%. India’s monthly product exports were higher for all products except fuel oil exports, which declined by16 tb/d from the previous month.

Consequently, India’s net imports declined m-o-m by 104 tb/d, or 2%, to average 3.5 mb/d, but showed a gain of 412 tb/d, or 13%, y-o-y.

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