India Oil Trade - May 2016

Source: OPEC 5/24/2016, Location: Asia

India’s crude oil imports dropped in March from the previous month by 48 tb/d, or 1%, while on a y-o-y comparison, they increased by 320 tb/d, or 8%, to average 4.2 mb/d. India’s product imports were stable from the previous month, averaging 361 tb/d in March. India’s product exports declined in March from the previous month by 169 tb/d, or 10%, while they showed a rise from a year earlier by the same amount.

In March, India’s product exports reached the lowest level seen since the beginning of the year, mainly as exports of diesel, petrol and fuel oil were lower than during the previous month.

Therefore, India’s net imports increased by 118 tb/d, or 4%, m-o-m and by 140 tb/d, or 4%, from last year to average 3.5 mb/d.

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