Oil imports on high

During the first nine months of the year the country's oil imports rose 1.8 per cent to about 4.4 million bpd, with most supplies coming from the Middle East, followed by Africa and Latin America.

Fuel demand typically eases in the Q3 as monsoon rains hit construction, industrial activity and reduces consumption of transport fuels. That provides refiners with an opportunity to carry out maintenance.

The country added 1,70,000 bpd of capacity at plants owned by Bharat Petroleum Corp and HPCL-Mittal Energy, which are gradually ramping up crude runs. Reuters