DIESEL: India’s June crude oil imports fell 13.4% from a year earlier to their lowest since February 2017, government data showed on Tuesday. Crude imports into the world’s third-biggest oil importer fell to 16.87 million tonnes, which was also a more than 10% drop from May’s 18.87 million tonnes.
June’s decline came amid the loss of Iranian oil supplies as Washington tightened sanctions on Tehran. In April, Trump administration had said it would not renew exemptions granted last year to buyers of Iranian oil. India through May was Iran’s second-biggest oil customer after China.
Meanwhile, imports of oil products surged by about 20.4% from a year earlier, while year-on-year exports slipped 11.4% last month, the data showed.
