India's Crude Oil imports rise 14% in April: PPAC
Commodity Online | May 23 2019
UPDATED 12:22:12 IST

Retail Traders & Investors Squeezed to Buy High-Risk Assets Again

LME starts publishing off-warrant stocks data

Metals extend gains; oil prices trend higher despite increase in inventories

Metals rally as risk aversion takes hold; oil prices steady ahead of inventories report

Saudi Arabia Eyes Total Dominance In Oil And Gas

India's Crude oil imports rose 14% in April from a year earlier to 19.72 million tonnes, the highest since October 2018, when imports were at a seven-year high of about 21 million tonnes, latest data from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry showed.

April crude imports were also up 2% from March's 19.32 million tonnes, despite a decline in oil imports from Iran after Washington told buyers to end Iranian oil purchases from May or face sanctions.

India's oil imports from Iran had fallen about 57% year-on-year in April, according to tanker arrival data seen by Reuters.

Diesel imports also surged to about 250,000 tonnes, the highest since July 2017. While monthly liquefied petroleum gas (LPG) imports fell more than 10%, but on a year-on-year basis they are up about 45%.

The country's demand for LPG had risen to a record in the fiscal year ended in March amid government measures to provide cleaner cooking fuel to rural households, and analysts expect consumption to keep rising.

Total imports of refined product decreased marginally, down by about 0.7% from a year earlier.

Total refined product exports surged 17% last month year-on-year, the data showed. Exports were, however, down more than 19% from last month.