India’s oil imports at near 3-yr high in December: trade
- Date: 20-Jan-2021
- Source: Zawya
- Sector:Oil & Gas
- Country:Middle East
India’s oil imports at near 3-yr high in December: trade
India's oil imports at near 3-yr high in December: trade OPEC's share shrinks to record low of 67% in Dec - data Smoke rises from a Hindustan Petroleum Corp Ltd (HPCL) refinery after a fire at Vizag in the southern Indian state of Andhra Pradesh August 23, 2013. NEW DELHI: India's crude oil imports in December soared to the highest levels in nearly three years to more than 5 million barrels per day (bpd) as its refiners cranked up output to meet a rebound in fuel demand, data from trade sources showed.India's year-end rush for crude supplies coincided with stronger demand from north Asian buyers during winter, boosting prices and an accelerating de-stocking of floating storage globally. December oil imports by India, the world's third biggest crude importer and consumer, were about 29% more than the previous month and about 11.6% higher than a year earlier, the data showed, after fuel consumption rose for a fourth straight month to an 11-month high in December. India's year-end rush for crude supplies coincided with stronger demand from north Asian buyers during winter, boosting prices and an accelerating de-stocking of floating storage globally. NEW DELHI: India's crude oil imports in December soared to