Indian Diesel Exports on the Rise, Drop in Brazilian Crude Exports
Indian crude imports in August were up by 4.4% or 190K b/d m-o-m at 4.28M b/d, but 3.8% or 160K b/d lower y-o-y, according to the Petroleum Planning & Analysis Cell. Meanwhile, diesel exports in August were up by 30% or 150K b/d m-o-m at 670K b/d, the highest since Sep-16, which offset declines in exports of other clean products such as gasoline (down 0.2 MT m-o-m) and naphtha (down 0.29 MT m-o-m). Total product exports in August were at 1.28M b/d, up 2.4% m-o-m but down 9.8% y-o-y.
Brazilian crude exports in September were down by 10.4% or 113K b/d m-o-m and 3.7% or 37K b/d y-o-y at 969K b/d, the lowest since May-2017, according to data by the Brazilian Ministry of Industry, Foreign Trade and Services. There was a monthly decline in imports of all products including diesel/fuel oil, gasoline, jet and naphtha, leading to a 17.4% or 91K b/d drop m-o-m in total products' imports.