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Regular-article-logo Tuesday, 28 May 2024

August crude oil imports fall

Fuel demand in the world’s third-biggest importer and consumer also slipped, posting its biggest monthly decline since April

Reuters New Delhi Published 23.09.20, 01:10 AM
Crude oil imports last month fell about 23.4 per cent from a year earlier to 15.15 million tonnes, or 3.58 million barrels per day (bpd), data from the Petroleum Planning and Analysis Cell (PPAC) of the Ministry of Petroleum & Natural Gas showed.

Crude oil imports last month fell about 23.4 per cent from a year earlier to 15.15 million tonnes, or 3.58 million barrels per day (bpd), data from the Petroleum Planning and Analysis Cell (PPAC) of the Ministry of Petroleum & Natural Gas showed. Shutterstock

Crude oil imports declined in August, though at a slower pace, as soaring coronavirus cases continued to hit mobility and slowed economic recovery, government data showed on Monday.

Crude oil imports last month fell about 23.4 per cent from a year earlier to 15.15 million tonnes, or 3.58 million barrels per day (bpd), data from the Petroleum Planning and Analysis Cell (PPAC) of the ministry of petroleum & natural gas showed.

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On a monthly basis, imports rose 9.9 per cent from 13.79 million tonnes, or 3.26 bpd in July.

Fuel demand in the world’s third-biggest oil importer and consumer also slipped in August, posting its biggest monthly decline since April and a sixth consecutive year-on-year drop.

Refined product imports edged up 1.5 per cent to 3.25 million tonnes year-on-year, but slipped 18.77 per cent from 4.01 million tonnes in July.

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