Crude oil imports in November up 6.5%;domestic crude output remains flat

摘要

To cash in on strong margins that make oil product exports attractive,and growing domestic demand,Indian refiners imported 6.5% more crude oil in November this year compared to the same month last year.According to data released by the Petroleum Ministry,refiners imported 9.25-mt of crude oil(8.68-mt in the same month last year).While the domestic demand for oil products rose 5.5% in November to 10.60-mt(10.05-mt in the corresponding month last year),strong margins and controlled prices of petroleum products in the domestic market led to a 6.1% increase in exports of petroleum products during the month to 2.89-mt(2.73-mt in the same month last year).