India's oil imports from Iran dropped 27% to a five-month low in August from a high base last year and ahead of a planned shutdown by two refineries Essar Oil and Mangalore Refinery and Petrochemicals for about a month from mid-September, leading to lower purchases from last month.
India shipped in about 198,800 barrels per day (bpd) of Iran oil in August, down 7.7% from July, the data showed. Despite the drop, India is still expected to raise imports as sanctions against the OPEC country ease.