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India’s November Crude Imports Mark Biggest Decline in Nearly Four Years

The fall was largely attributed to maintenance shutdowns at some refineries. In November, oil imports from Iran also declined to the lowest level in a year as purchases were curbed as a result of the re-imposition of US sanctions on Iran.

FILE PHOTO: A worker walks atop a tanker wagon to check the freight level at an oil terminal on the outskirts of Kolkata November 27, 2013. REUTERS/Rupak De Chowdhuri/File Photo

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New Delhi: The monthly crude oil imports in November marked their biggest year-on-year decline in nearly four years, data from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry showed on Thursday.

The November crude imports slid 11.4 percent to 17.01 million tonnes, registering their largest year-on-year percentage fall since Feb 2015, when it tumbled 21.3 percent, the government data showed.

The fall was largely attributed to maintenance shutdowns at some refineries.

In November, oil imports from Iran also declined to the lowest level in a year as purchases were curbed as a result of the re-imposition of US sanctions on Iran.
Meanwhile, imports of oil products declined about 7 percent and exports fell 6.8 percent, the data showed.

Source: News18