India's crude imports have been rising despite high oil prices, pushing Asia's overall oil imports to a one-year high in May.
Record-high crude imports in India have pushed Asia ’s oil arrivals in May to the highest level in a year, per data compiled by LSEG Oil Research and cited by Reuters columnist Clyde Russell. Asia , the key crude oil importing region and a gauge of oil demand trends, is set to welcome in May 27.81 million barrels per day bpd of crude oil volumes, nearly 1 million bpd higher than the April imports, per the LSEG Oil Research data.
While India is leading Asia’s crude imports higher, China is again showing signs of weaker import demand. The world’s top crude oil importer is expected to haul in 10.72 million bpd of crude in May, down from the 10.93 million bpd imports in April and the lowest per-day volumes since January, Reuters’ Russell notes. The stronger Indian economy compared to China and the renewed appetite from Indian refiners for Russian crude – after hesitation earlier this year when stricter U.S.
Asia Crude Oil Imports Asia Research Demand Oil Prices
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
China's Purchases of Saudi Crude to Drop in JuneChina is set to purchase lower volumes of Saudi crude in June due to higher prices and lower refining margins.
Read more »
Parents warned of easy online knife purchases after youth guilty of killing boyThe 17-year-old boy, who cannot be named for legal reasons, was found guilty of murder following a trial at the Old Bailey on Friday.
Read more »
Parents warned of easy online knife purchases after youth guilty of killing boyThe 17-year-old boy, who cannot be named for legal reasons, was found guilty of murder following a trial at the Old Bailey on Friday.
Read more »
Get 20 per cent off purchases at Brewers for paint refreshWe have teamed up with Brewers to offer you 20 per cent off your first and second purchase
Read more »
Get 20 per cent off paint and wallpaper purchases at BrewersWe have teamed up with Brewers to offer you 20 per cent off your first and second purchase
Read more »
Shoppers can make savings on IKEA purchases at this Bank HolidaySpend £100 to get £10 off for a limited time
Read more »