India Oil Trade in July 2012

Source: OPEC 8/28/2012, Location: Asia

India’s crude oil imports fell by 110 tb/d or 3.2% in June to 3.3 mb/d. The y-o-y decline was 1.9%. In terms of products, India’s imports fell by 16tb/d from the previous month to 256 tb/d, equating to a drop of 5.8% m-o-m and 31.8% y-o-y. Annually, there were decreases for all product imports, with the greatest drop for petrol and liquefied petroleum gas (LPG). India’s product exports gained 66tb/d in June to average 1.06 mb/d. This increase came on the back of higher exported volumes of petrol, jet fuel, diesel and fuel oil. Yet annually, exports fell by 18.9%. This drop was seen for all exported products. As a result, India’s net oil imports decreased by 192 tb/d or 7% from May, and yet gained 63 tb/d or 2.6 % from the previous year’s level.

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