India imported $2.73bn of crude oil from the UAE in May, the country’s latest import statistics show. This is India’s highest bill for Emirati crude imports since at least January 2022 and likely the all-time high.
Volumetrically, imports of 805,000 b/d (MEES, 17 July) were the second highest on record, beaten only by September 2021’s 819,000 b/d. Volumes surged from the previous month’s 544,000 b/d despite the Hormuz crisis. Most of this was Murban crude exported from the Indian Ocean port of Fujairah, but this was supplemented by some cargoes surreptitiously brought out through the Strait of Hormuz by Adnoc as it began to put in place its now firmly-established ‘shuttle’ system (MEES, 12 June). Kpler shows that four cargoes of Upper Zakum and one of Das were delivered through the strait in May. (CONTINUED - 216 WORDS)
