By Nakul Iyer
(Reuters) -India’s Might crude oil imports slipped to their lowest in three months as gas demand sagged amid a second wave of the COVID-19 pandemic that crimped financial exercise and mobility, authorities knowledge confirmed on Monday.
Nonetheless, imports have been nonetheless 18.2% increased from a yr earlier, knowledge on the web site of the Petroleum Planning and Evaluation Cell (PPAC) confirmed.
On a month-to-month foundation, crude oil imports on the planet’s third largest oil shopper and importer dropped 5.5% to 17.26 million tonnes from April.
Final month’s decline in imports comes on the heels of information exhibiting gas consumption slumped in Might to its lowest since final August. [nL3N2NR3BG
A surge in coronavirus instances and deaths in Might pressured most states to impose tight restrictions and lockdowns, slowing manufacturing