Oil Import In September

India's oil imports from the Middle East fell to a 19-month low in September while Russian imports rebounded although refining outages hit overall crude imports, data from trade and shipping sources showed.

India's crude oil imports in September hit a five-month high, government data showed on Wednesday, as a pick up in economic activity and mobility led to higher fuel demand.

Prices came under pressure early when China, the world's biggest crude importer, released data showing September imports fell 15% from a year earlier.

Last month, India's oil imports from its top oil supplier Iraq declined by about 18 per cent from August, the data showed, as OPEC's second biggest producer deepened output cuts to compensate for overproduction.

India oil import bill is expected to fall by a sharper 10 per cent in FY20 as the increasing spread of Coronavirus and now the fallout of talks between OPEC and Russia has depressed the crude oil prices to about $30 a barrel now against a high of over $70 a barrel in September and again in January this year.

Brent crude futures jumped to their highest since September 17 and were last up 2.88 per cent at $68.16 a barrel. The rupee weakened by 0.26 per cent to 71.5525 against the dollar. India, the world's third-biggest oil consumer, imports about 80 per cent of its oil needs, making it highly susceptible to crude price swings.

The fall in oil imports limited India's fiscal deficit for September, but it also potentially points to a general economic and industrial slowdown.

Monsoon rainfall was 43 per cent lower than normal so far in June, but in some states, such as Maharashtra, the rainfall deficit was as high as 68 per cent, data compiled by the state-run India Meteorological Department (IMD) showed. Lower production of soybeans could force the country to raise imports of edible oils such as palm oil and soyoil, wh...

World Heart Day 2018 : This World Heart Day choose oils with less than four grams of saturated fat per tablespoon, and no partially hydrogenated oils or trans fats for better health.

The Chairman of the biggest oil refiner Indian Oil Corp, Sanjiv Singh, confirmed the plan to cut imports in favour of stockpiled crude was discussed at a September 15 meeting attended by refinery officials.

Indian refiners will cut their monthly crude loadings from Iran for September and October by nearly half from earlier this year as the government works to win waivers on the oil export sanctions Washington plans to reimpose on Tehran in November. India's loadings from Iran for this month and next will drop to less than 12 million barrels each, afte...

The rupee erased all gains against the US dollar and weakened sharply to 71.99 on Friday, reported news agency Reuters. According to dealers, the depreciation in Indian currency came after sustained dollar demand from oil importers pushed the unit below a strong resistance level. The rupee was trading at 71.94 to the dollar, after touching 71.52, i...

During the first nine months of the year India's oil imports rose 1.8 percent to about 4.4 million bpd, with most supplies coming from the Middle East, followed by Africa and Latin America.

Global benchmark oil futures have risen more than 10% since the end of September on prospects major crude producers would freeze or cut production to stem an oversupply in the market.

Other spot values for Asia-Pacific crude loading in September fell to multi-year lows, as refinery margins weakened amid slowing regional demand and a buildup of product stocks, further boosting the shipments from East Asia.

India's oil imports from the Middle East fell to a 19-month low in September while Russian imports rebounded although refining outages hit overall crude imports, data from trade and shipping sources showed.

India's crude oil imports in September hit a five-month high, government data showed on Wednesday, as a pick up in economic activity and mobility led to higher fuel demand.

Prices came under pressure early when China, the world's biggest crude importer, released data showing September imports fell 15% from a year earlier.

Last month, India's oil imports from its top oil supplier Iraq declined by about 18 per cent from August, the data showed, as OPEC's second biggest producer deepened output cuts to compensate for overproduction.

India oil import bill is expected to fall by a sharper 10 per cent in FY20 as the increasing spread of Coronavirus and now the fallout of talks between OPEC and Russia has depressed the crude oil prices to about $30 a barrel now against a high of over $70 a barrel in September and again in January this year.

Brent crude futures jumped to their highest since September 17 and were last up 2.88 per cent at $68.16 a barrel. The rupee weakened by 0.26 per cent to 71.5525 against the dollar. India, the world's third-biggest oil consumer, imports about 80 per cent of its oil needs, making it highly susceptible to crude price swings.

The fall in oil imports limited India's fiscal deficit for September, but it also potentially points to a general economic and industrial slowdown.

Monsoon rainfall was 43 per cent lower than normal so far in June, but in some states, such as Maharashtra, the rainfall deficit was as high as 68 per cent, data compiled by the state-run India Meteorological Department (IMD) showed. Lower production of soybeans could force the country to raise imports of edible oils such as palm oil and soyoil, wh...

World Heart Day 2018 : This World Heart Day choose oils with less than four grams of saturated fat per tablespoon, and no partially hydrogenated oils or trans fats for better health.

The Chairman of the biggest oil refiner Indian Oil Corp, Sanjiv Singh, confirmed the plan to cut imports in favour of stockpiled crude was discussed at a September 15 meeting attended by refinery officials.

Indian refiners will cut their monthly crude loadings from Iran for September and October by nearly half from earlier this year as the government works to win waivers on the oil export sanctions Washington plans to reimpose on Tehran in November. India's loadings from Iran for this month and next will drop to less than 12 million barrels each, afte...

The rupee erased all gains against the US dollar and weakened sharply to 71.99 on Friday, reported news agency Reuters. According to dealers, the depreciation in Indian currency came after sustained dollar demand from oil importers pushed the unit below a strong resistance level. The rupee was trading at 71.94 to the dollar, after touching 71.52, i...

During the first nine months of the year India's oil imports rose 1.8 percent to about 4.4 million bpd, with most supplies coming from the Middle East, followed by Africa and Latin America.

Global benchmark oil futures have risen more than 10% since the end of September on prospects major crude producers would freeze or cut production to stem an oversupply in the market.

Other spot values for Asia-Pacific crude loading in September fell to multi-year lows, as refinery margins weakened amid slowing regional demand and a buildup of product stocks, further boosting the shipments from East Asia.