India Oil Trade – June 2015

Source: OPEC 6/18/2015, Location: Asia

In April, India’s crude imports averaged 3.6 mb/d, which is 329 tb/d or 9% lower than the level seen last month, while on an annual basis, there was a decrease of 560 tb/d or 14%. This decline came ahead of a planned maintenance shutdown.

On the other hand, product imports saw a drop of 25 tb/d or 4% from a month ago to average 535 tb/d. Y-o-y, this reflects a gain of 81 tb/d or 18%. Oil product sales rose in April from a year earlier by 8.7%, driven by strong demand for gasoline and gasoil.

India’s product exports dropped in April by 222 tb/d or 19% from the previous month to average 975 tb/d, the lowest level seen since February 2011, while on an annual basis, they dropped by 174 tb/d or 15%. This was mainly due to monthly exports of diesel being down by 93 tb/d or 22% from the previous month.

Consequentially, India’s net imports declined by 132 tb/d to average 3.1 mb/d.

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