Oil Import
India's oil imports in Feb increased amid surge in demand
India's crude oil imports in February increased to 4.86 million barrels per day (bpd), its highest since December 2020.
According to a Reuters report, oil imports for February rose 5 percent from January and were up 24 percent from a low base in February 2021, when a refinery at Bathinda in northern India was fully shut for maintenance, data showed.
Indian refiners typically buy oil two months ahead of processing.
The report said that some Indian refiners have also delayed maintenance shutdowns of units to benefit from exports, while meeting rising local fuel demand.
India is Asia's third-largest economy and world's third-biggest oil importer and consumer.
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