India’s petroleum products’ export falls 1% in May after rising 22% in April

Export of petroleum products fell 1% in May over the year after rising 22% in April as demand soared in the domestic market, according to the oil ministry data.

India exported 5.7 million metric tonnes (MMT) of petroleum products in May, 6% higher than in April but 1% lower than in May 2021. Imports increased 14% to 3.2 MMT in May over the year, compared to 3.8 MMT in April. Net export contracted 0.4 MMT during the month over the year.