Weak energy prices have prompted India to go on a crude and LNG buying spree, latest analysis shows.
India’s seaborne imports of crude oil surpassed five million barrels per day (bpd) last week, for the first time since mid-August, reported HIS Markit.
“Weak crude oil prices driven by the coronavirus outbreak seem to have positively affected demand for crude oil in India,” said Fotios Katsoulas, liquid bulk analyst for maritime and trade at IHS Markit.
