14-06-2018

India’s May oil imports up 2.8 pct year-on-year – trade

India imported 4.3 million barrels per day (bpd) of oil in May, a rise of 2.8 percent on a year earlier, according to data from shipping and industry sources, with the top three suppliers Iraq, Saudi Arabia and Iran making up 56.4 percent of imports.

In May, India imported about 705,200 bpd of Iranian oil, the highest since October 2016.

The increase from Iran lifted imports from the Middle East, with the region accounting for about 73 percent of overall purchases in May compared to 65 percent in April, data showed.

The share of Latin American crude imports to India increased marginally, while African imports nearly halved to 7.2 percent in May.

The following table shows India’s imports by country. The imports include condensate. Volumes are in ‘000 bpd.

NOTE: The total may not tally as numbers in tonnes have been rounded off after converting them into barrels using a conversion factor of 7.3 barrels per tonne and dividing by the number of days. Numbers for the previous months may have been
revised.

The data includes some oil tankers that arrived in April but discharged in May. It may also include some parcels that arrived in May and discharged in June.

Source: Reuters

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