In January, the country's daily import of crude oil remained at a record high

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MUMBAI: The country's crude oil imports hit a new record high in January due to increased industrial activity. Imports have seen growth due to increase in demand. As a result of the Red Sea crisis, cargo deliveries from the US were delayed in December.

India's crude oil imports stood at 52.40 lakh barrels per day in January, up 17 percent from December and 3.50 percent higher year-on-year.

Earlier, in January 2018, the country's daily import of crude oil was a record 51 lakh barrels.

Oil cargoes coming from America and Latin America were slowed down in December due to the overnight sea crisis. Sources of the local refinery said that the cargos arriving in December arrived in January. India's crude oil imports from Russia rebounded after a slowdown in December.

Considering the growing economic growth rate of the country, the import of crude oil is likely to increase in the coming months.

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