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Oil Trade

78

OPEC Monthly Oil Market Report – September 2017

Graph 8 - 7: India’s imports of crude and petroleum products

India’s

product exports

rose in July by 92 tb/d from the previous month to average 1.4 mb/d, the highest

level since March 2017, while they increased by 45 tb/d, or 3%, from a year earlier. Monthly exports of

almost all products increased.

Graph 8 - 8: India’s exports of petroleum products

Consequentially,

India’s

net imports

declined by 230 tb/d to average 3.6 mb/d, which is 6% lower than last

month, while they remained 3% higher than a year ago.

Table 8 - 4: India’s crude and product net imports, tb/d

0

1,000

2,000

3,000

4,000

5,000

0

200

400

600

800

1000

Jul 16

Aug 16

Sep 16

Oct 16

Nov 16

Dec 16

Jan 17

Feb 17

Mar 17

Apr 17

May 17

Jun 17

Jul 17

tb/d

tb/d

Others

LPG Naphtha

Gasoline

Kerosene

Gasoil

Fuel oil

Crude (RHS)

Sources: Petroleum Planning & Analysis Cell of India and OPEC Secretariat.

0

200

400

600

800

1,000

1,200

1,400

1,600

1,800

0

200

400

600

800

1,000

1,200

1,400

1,600

1,800

Jul 16

Aug 16

Sep 16

Oct 16

Nov 16

Dec 16

Jan 17

Feb 17

Mar 17

Apr 17

May 17

Jun 17

Jul 17

tb/d

tb/d

Others

Naphtha

Gasoline

Jet Fuel

Gasoil

Fuel Oil

Sources: Petroleum Planning & Analysis Cell of India and OPEC Secretariat.

Change

May 17

Jun 17

Jul 17

Jul 17/Jun 17

Crude oil

4,227

4,311

4,089

-222

Total products

-461

-474

-482

-8

Total crude and products

3,767

3,836

3,607

-230

Note: India data table does not include information for crude import and product export by Reliance Industries.

Sources: Petroleum Planning & Analysis Cell of India and OPEC Secretariat.