New Delhi: Data released by the Petroleum Planning and Analysis Cell (PPAC) of the Union Petroleum Ministry revealed that the crude oil imports of the country in April was the highest in 3-1/2 years. . Crude oil imports increased by about 9.7% from March and were up about 14.3% from a year earlier at 20.87 million tones. This is the highest imports since October 2018.
As per the data, imports of oil products surged 23.7% to 3.79 million tonnes from a year earlier. The exports climbed 36.9%. Of the 5.36 million tonnes of exports in April, diesel accounted for 2.69 million tonnes
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India is the world’s third biggest oil importer and consumer. India started importing oil from Russia recently. Russia became the fourth-largest oil supplier to India in April. India, Asia’s third-biggest economy, holds surplus refining capacity and exports refined fuels as well.
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