16 per cent increase in crude oil imports as economic activity picks up
Mumbai: India's crude oil imports rose to a five-month high in September. Demand for fuel has increased due to increased economic activity and mobility. In September, India's crude oil imports grew by 12 per cent year-on-year to 12 million tonnes, according to data from the Petroleum Planning and Analysis Cell. India is the third largest consumer and importer of crude oil in the world. Crude oil imports in September were the highest since April. The country's refineries are still expecting demand for crude oil to increase with the increase in vehicle use, an analyst said. Factory activity in India, Asia's third-largest economy, increased significantly in September. The recovery is expected to continue for a few more months with the support of mild monetary policy. Crude oil imports rose 1.50 per cent in September compared to August.