India's crude oil imports in May fell 22.6% from a year earlier, it's biggest drop since at least 2005, as fuel demand and refinery production was hurt by a country-wide lockdown to curb the spread of coronavirus.

India's May crude oil imports post biggest decline since at least 2005

With oil traders forecasting crude oil to rise to $100 a barrel by the end of the year, Indian refiners are considering cutting back their imports and relying more on cheaper crude already stored in inventories, according to industry executives.

As oil forecasts call for $100, India considers cutting back crude imports

crude-oil-import

Crude Oil Import, News on Crude Oil Import, stories on Crude Oil Import, articles on Crude Oil Import, Crude Oil Import stories at Wion, Crude Oil Import news, Crude Oil Import latest news

crude oil-import

India's May crude oil imports post biggest decline since at least 2005

As oil forecasts call for $100, India considers cutting back crude imports