Copyright indiatimes
AgenciesRepresentative image India's crude oil imports rose 1.7% in September to 19.93 million metric tons month-on-month, government data showed on Monday.India is the world's third-biggest oil importer and consumer, making this data a key indicator of its oil demand. On a yearly basis, crude oil imports rose 6.1%, from 18.79 million tons in September 2024, data from the Petroleum Planning and Analysis Cell shows. Imports of crude oil products rose about 20.9% on a yearly basis to 4.40 million tons in September, while product exports fell 4.8% to 6.18 million tons.The European Union, the UK and the U.S. have imposed a raft of sanctions against Russia over its war in Ukraine, including fresh U.S. sanctions on Thursday targeting Russia's two top oil producers Lukoil and Rosneft. The U.S. has given companies until November 21 to wind down their transactions with the Russian oil producers. Indian refiners are poised to sharply curtail imports of Russian oil to comply with new U.S. sanctions on two top Russian producers, industry sources said on Thursday, potentially removing a major hurdle to a trade deal with the U.S. Live EventsIndia's Russian oil imports between April and September fell 8.4% on year due to narrower discounts and tighter supplies, with refiners seeking more oil from the Middle East and the U.S., according to trade sources and shipping data. Two Indian refiners have bought 4 million barrels of Guyanese crude oil from U.S. major Exxon Mobil to be delivered at the end of 2025 or in early 2026, in rare imports from the South American producer, trade sources said on October 17. NOTE: The data for imports and exports is preliminary because private refiners share numbers at their discretion. Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) Read More News onIndia crude oil importsSeptember 2024 oil importsIndia oil import statisticscrude oil demand in IndiaU.S. sanctions on Russian oilIndian refiners Russian oil importscrude oil products importsGuyanese crude oil importsPetroleum Planning and Analysis Celloil consumption in India (Catch all the Business News, Breaking News and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online....moreless (You can now subscribe to our Economic Times WhatsApp channel)Read More News onIndia crude oil importsSeptember 2024 oil importsIndia oil import statisticscrude oil demand in IndiaU.S. sanctions on Russian oilIndian refiners Russian oil importscrude oil products importsGuyanese crude oil importsPetroleum Planning and Analysis Celloil consumption in India(Catch all the Business News, Breaking News and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online....moreless
