India Oil Trade - October 2016

Source: OPEC 11/6/2016, Location: Asia

In August, India’s crude imports went up by 377 tb/d, or 9%, from the previous month to average 4.4 mb/d, while y-o-y, they also increased, rising by 372 tb/d or 9%.

Product imports in August rose by 19 tb/d from the previous month to average 642 tb/d, while y-o-y, they were lower by 111 tb/d. Monthly product imports stayed almost stable as the imports of different products reflected no major changes from the previous month.

India’s product exports were higher in August than in the previous month by 175 tb/d, or 13%, to average 1.5 mb/d, while y-o-y, exports were also higher, rising by 42 tb/d or 3%. India’s monthly product exports reached their highest level since February 2016, mainly on exports of higher volumes of diesel oil, which rose to 111 tb/d from the previous month. Naphtha exports also went up from the previous month by 70 tb/d.

Consequentially, India’s net imports increased by 221 tb/d to average 3.6 mb/d, reflecting an increase of 7% m-o-m and y-o-y.

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