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India Oil Trade in November 2013

Source: OPEC 12/17/2013, Location: Asia

In October, Indian crude imports averaged 3.7 mb/d, 72 tb/d or 2% higher than levels seen last month. On an annual basis, they dropped by 207 tb/d or 5%.

Product imports saw a slight increase of 12 tb/d or 3% from one month ago to average 436 tb/d, the highest level seen since August of 2012. However, the y-o-y gain amounts to 102 tb/d or 31%. Monthly product imports experienced a drop, mainly in naptha; imports of LPG were higher. Diesel imports remained stable from last month. In October, Indian product sales rose 1.6% over a year ago after experiencing a four-month decline.

India’s product exports were lower in October by 168 tb/d or 10% from the previous month to average 1.5 mb/d; this represents a drop of 60 tb/d or4% from one year ago. Monthly exports of diesel dropped by 19% from the previous month, though still remaining 2% higher than the previous year. Other product exports such as naphtha and petrol were up by 3% and 10% from a month earlier.

Consequentially, India’s net imports increased by 252 tb/d to average 2.6 mb/d, a rise of 11% over last month, yet lower by 2% from a year ago.

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