January crude imports hit 21-month high due to strong Industrial demand
India’s crude oil imports jumped to a 21-month high in January as the world’s third-biggest oil importer and consumer shipped in more fuel to meet surging demand led by strong industrial activity.
Crude oil imports in January rose 9.5% month-on-month to 21.39 million metric tons, and were up 5.7% on year-on-year basis, Petroleum Planning and Analysis Cell (PPAC) data showed on Thursday.
India’s fuel consumption rose 8.2% year-on-year last month, government data showed earlier this month.
