India’s crude oil imports fell for a third month in a row in August, government data showed on Tuesday, as refiners in the world’s third biggest importer carried out maintenance and reduced shipments from Russia.
Crude imports fell 3.9% month-on-month to 18.73 million metric tons in August, Petroleum Planning and Analysis Cell (PPAC) data showed.
“Imports are down, which was expected due to refinery maintenance,” said LSEG analyst Ehsan Ul Haq.
“Higher prices for Russian oil could also have led to lower imports by Indian refiners,” said Haq, adding that demand could nevertheless pick up during the festive season.
