India's Crude Oil Import Volumes Fall 3% in August as Import Bill Rises

India imported 19 million metric tonnes of crude oil in August, representing a 3% volume decline compared to 19.6 MMT imported in the same month last year.

Despite the lower import volume, the country's crude import bill surged 18.2% to $11.7 billion due to an average basket cost of $90.19 per barrel.

India's net import bill remained flat at $9.3 billion as petroleum product exports earned refiners 43% more revenue despite a 14% drop in supplied quantities.