India’s May crude oil imports dip as coronavirus pandemic curbs demand
(Reuters) -India’s May crude oil imports slipped to their lowest in three months as fuel demand sagged amid a second wave of the COVID-19 pandemic that crimped economic activity and mobility, government data showed on Monday.
However, imports were still 18.2% higher from a year earlier, data on the website of the Petroleum Planning and Analysis Cell (PPAC) showed.
On a monthly basis, crude oil imports in the world’s third largest oil consumer and importer dropped 5.5% to 17.26 million tonnes from April.
Last month’s decline in imports comes on the heels of data showing fuel consumption slumped in May to its lowest since last August.
