India imported 17 million mt (4.2 million b/d) of crude oil in November, down 11.4% year on year, the latest provisional data from the country’s Petroleum Planning and Analysis Cell showed. Receive daily email alerts, subscriber notes & personalize your experience. Register Now Crude imports were also down 19.4% from October. Analysts said the biggest decline in nearly four years was mainly due to lower overseas purchases by refiners after US sanctions on Iran, and also due to maintenance shutdowns by some refiners. In November, overall domestic oil products demand shrank year on year due to a decline in diesel demand amid high-interest rates and a 3.4% year-on-year drop in passenger vehicle sales in October. India’s oil products demand in November fell 1.8% year on year to 17.3 million mt, or 4.5 million b/d, PPAC said. In the first 11 months of the year, crude […]