India Oil Trade - August 14

Source: OPEC 8/18/2014, Location: Asia

In June India’s crude imports increased by 358 tb/d, or 10%, from the previous month to average 3.9 mb/d. Furthermore, crude imports reflected an annual gain of 430 tb/d or 12%. While product imports in June dropped by 10 tb/d from the previous month to average 419 tb/d, on a y-o-y basis, they went up by 112 tb/d. Monthly product imports were lower in both LPG and fuel oil, while no imports of kerosene were registered. India’s product exports were higher in June by 21 tb/d, or 2%, to average 1.2 mb/d. On a y-o-y basis, product exports were 108 tb/d, or 8%, lower than last year. India’s monthly product exports in June were higher in diesel, petrol and naphtha while they were lower in kerosene and fuel oil. Consequently, India’s net imports declined by 327 tb/d to average 3 mb/d, reflecting an increase of 12% m-o-m and 27% y-o-y.

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