India Oil Trade in April 2012

Source: OPEC 5/19/2012, Location: Asia

India’s crude oil imports declined by 227 tb/d, or 6.0%, to 3.53 mb/d in March. However, y-o-y, they were up by 37 tb/d, or 1.1%, from the 2011 level. Product imports in March fell by 25.0 tb/d, or 8.3%, to average 276 tb/d. The main contributors to this decline were reductions in diesel and fuel oil imports. Despite this major drop, product imports on March held above the 250 tb/d that was the lowest level registered in May 2011. Y-o-y, product imports were 112 tb/d, or 28.9%, lower this year. On the export side, products decreased by 64 tb/d, or 5.0%, in March to 1.22 mb/d. This decrease was caused mainly by reduced exports of diesel, jet fuel and fuel oil, with respective drops of 32.8 tb/d or 8.3%, 12.9 tb/d or 15.8% and 15.1 tb/d or 11.1%. Y-o-y, product exports fell by 200.2 tb/d, or 14.1%, in March. As a result, India’s net oil imports decreased by 187 tb/d, or 6.7%, to average 2.60 mb/d. Y-o-y, however, they rose by 125 tb/d, or 5.1%.

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