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India's Oil imports fall 6% Y-o-Y to 3.72 million barrels per day in June

21 Jul 2015 Evaluate

India's oil imports fell about 6.01% from a year earlier to about 3.72 million barrels per day in June, according to latest data from Petroleum Planning and Analysis Cell (PPAC).

Imports of oil products rose 14.92%, while exports declined about 29.23%. India's annual fuel demand rose by 2.83% in June but it slowed compared to the previous month as better monsoon and improved power supply crimped demand for fuels.

Local oil product sales, a proxy for domestic oil demand in the world's fourth-largest oil consumer, rose to 14.4 million tonnes in June, according to PPAC. PPAC has revised fuel consumption data for May leading to an annual 3.66% jump in demand during the month.