Crude imports of the globe’s third-biggest oil consumer, India, plunged last month amid a drop in consumption due to renewed coronavirus lockdowns.
The country imported some 3.9 million barrels a day in June, which was 7% less than the month before, Reuters reports citing trade sources.India’s fuel demand showed a steady increase in February and March this year, but then dropped significantly in April and May, after the government issued new mobility restrictions amid the second wave of the coronavirus. The move left domestic oil refiners overstocked.“We had enough inventory of refined fuel, so there was little scope …
