India's June crude oil imports lowest in over five years; exports also drop

India's crude oil imports fell in June to their lowest level since February 2015, while its export of refined products also declined on a year-on-year basis, for the first time in almost a year, government data showed on Friday.

Crude oil imports last month dropped about 19 per cent from a year earlier to 13.68 million tonnes, down for a third straight month, data from the Petroleum Planning and Analysis Cell (PPAC) of the Ministry of Petroleum & Natural Gas showed.

"This is likely driven by not yet fully recovered oil demand and expectation that it might take longer to