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India's May oil imports hit lowest since 2011 over drop in demand: Report

In May, India imported 3.18 million barrels per day (bpd) of oil, a decline of about 31% from April and about 26% from a year ago, the data showed

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In May, Saudi Arabia was the top oil supplier to India for a second consecutive month, although supplies from the kingdom declined by nearly 28% from April, the data showed

Nidhi Verma | Reuters New Delhi

2 min read Last Updated : Jun 24 2020 | 1:32 PM IST

India's oil imports in May hit the lowest since Oct 2011 as refiners with brimming storage cut purchases after a continuous decline in fuel demand, preliminary data obtained from industry sources showed.

In May, India imported 3.18 million barrels per day (bpd) of oil, a decline of about 31% from April and about 26% from a year ago, the data showed.

Hit by an unexpected fall in demand due to lockdown measures to contain the novel coronavirus, Indian refiners in April filled tanks with cheaper oil, sold extra cargoes to the federal government for strategic reserves and declared force majeure on crude

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