India’s crude oil imports increased 38 tb/d or 1.1% m-o-m in April to stand at a level of 3.57 mb/d. Y-o-y, India’s crude oil imports decreased by 166 tb/d or 4.4% compared to the 2011 level. Product imports in April increased by 60.0 tb/d or 21.6% compared to the previous month to an average of 336 tb/d.
The rise of diesel and fuel oil imports in April was the main contributors to this increase. In y-o-y terms, product imports are 55 tb/d or 14.0% lower this year. On the export side, products decreased by 174 tb/d or 14.3% in April m-o-m, to stand at 1.04 mb/d. The decrease was caused by reduced exports of naphtha, jet fuel and fuel oil, representing 119.0 tb/d (43.1%), 18.7 tb/d (27.3%) and 15.4 tb/d (12.7%), respectively. Product exports decreased by 150.0 tb/d or 12.6% in April y-o-y. As a result, India’s net oil imports increased 271 tb/d or 10.5% to an average of 2.87 mb/d. On a y-o-y comparison, there was a decrease of 71 tb/d or 2.4%.