India’s crude oil imports in March fell by 1.1% from a yr earlier to twenty.69 million metric tons, authorities knowledge launched on Friday confirmed.
Information from the Petroleum Planning and Evaluation Cell’s (PPAC) web site additionally confirmed imports of crude oil merchandise dipped almost 12% to three.83 million tons on a yearly foundation, whereas product exports decreased 6.4% to five.66 million tons over the identical interval.
Product imports in March fell 6.1% from the earlier month to three.83 million tons, its lowest since July 2023, whereas exports gained 6.4%.
Exports of gas oil jumped almost 79% from the earlier month to 0.25 million tons, whereas these of gasoline, or petrol, gained 6.3% to 1.34 million tons, the PPAC knowledge confirmed.
Russia grew to become the highest oil provider to India throughout fiscal yr 2023/24 for a second straight yr, squeezing the market share of Center Jap and OPEC producers to historic lows, ship monitoring knowledge from trade sources confirmed earlier within the month.
A ship managed by U.S.-sanctioned Russian transport big Sovcomflot (SCF) discharged gas oil at a western Indian port on Friday, two sources accustomed to the matter mentioned, indicating a resumption in the usage of SCF vessels to produce Moscow’s key market after a quick halt.
Final week, India, the world’s third largest oil importer and shopper, mentioned current traits and volatility within the international oil market and their affect on international vitality stability with OPEC secretary basic on Friday, a authorities assertion mentioned.
 website also showed imports of crude oil products dipped nearly 12% to 3.83 million tons on a yearly basis, while product exports decreased 6.4% to 5.66 million tons over the same period.){kind=link}