India Oil Trade - January 2016

Source: OPEC 2/10/2016, Location: Asia

India’s crude oil imports increased in November from the previous month by 376 tb/d or 10% and by 391 tb/d or 11% y-o-y to average 4 mb/d, mainly on the back of increased refinery runs as the peak refinery maintenance ended.

India’s product imports dropped in November by 25 tb/d or 4% to average 629 tb/d, while increasing y-o-y by 162 tb/d or 34%. The monthly drop came as a result of higher imported volumes of naphtha and LPG, as both product imports increased in November by 61 tb/d and 29 tb/d, respectively.

India’s product exports increased from the previous month, rising in November by 244 tb/d to average 1.4 mb/d, while decreasing from a year earlier by 176 tb/d or 12%. The monthly gains in product exports came on the back of higher exports of diesel and naphtha, which went up by 131 tb/d and 58 tb/d, respectively.

As a result, India’s net trade imports increased in November by 106 tb/d or 3% mo- m and by 729 tb/d or 28% y-o-y, to average 3.3 mb/d.

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