(FE)
India’s crude oil imports rose to 5.2 million barrels per day in March, the highest level since early 2020 amid increased refinery runs by the Indian refiners, an analysis of the data provided by intelligence firm Kpler showed. Imports were 11% higher than February volumes and up 4.5% from 4.9 million barrels a day in March 2023.
Additionally, the country’s crude oil imports from Russia rose to 1.8 million barrels per day in March, highest after the July of last year primarily on the back of higher discharge of Urals, according to the data. Imports were, however, slightly down from 1.87 million barrels per day in the same period a year ago.
“India’s strong crude imports is partly a signal of refiners ramping up runs, although we have also seen a slight uptick in the country’s onshore crude inventories this month,” said Serena Huang, analyst at Vortexa. “India’s imports of Russian crude will likely remain robust in the near-term,” she said.
