India’s June oil imports hit their lowest in 9 months

India’s crude oil imports in June fell to their lowest in nine months, as refiners curtailed purchases amid higher fuel inventories due to low consumption and renewed coronavirus lockdowns in the previous two months.

India, the world’s third-biggest oil importer and consumer, shipped in about 3.9 million barrels per day (bpd) of crude last month, about 7% down from May, but 22% higher from year-ago levels, tanker arrival data obtained from trade sources showed.