India's record-high crude oil imports in May have driven Asia's oil arrivals to the highest level in a year. Data from LSEG Oil Research shows a significant increase in India's imports, surpassing China's. Despite the surge in imports, it's noted that oil imports do not directly correlate with oil consumption or economic growth.
Strong Indian Purchases Push Asia's Crude Imports To One-Year High https://t.co/tIDcl01zgc
Oil imports of any country don't tell us much about its oil consumption nor its economic growth. #India #China India's crude oil imports were at record high in May with an increase over the previous month of 200 kbd. Here is teh catch: - Exports increased by about 80 kbd in… https://t.co/5iIoqkGLLz
Record-high crude imports in India have pushed Asia’s oil arrivals in May to the highest level in a year, per data compiled by LSEG Oil Research and cited by Reuters columnist Clyde Russell. https://t.co/elL9owfLWd
Asia's crude oil imports hit 12-month high, but it's India, not China - Reuters
Asia's crude oil imports hit 12-month high, but it's India, not China #oott https://t.co/5gmEaJ6fk0