India's crude oil imports rise to highest level in at least 7 years
Updated : November 21, 2018 03:05 PM IST
Crude imports in October climbed 10.5 percent from a year earlier to 21.02 million tonnes, the highest monthly import figure in PPAC data going back to April 2011.
In India, the world's third-largest consumer, oil imports typically rise from October due to higher fuel demand in the festival season and as industrial activity picks up after months of monsoon rains.
India is among the eight countries to have received a waiver from the United States to continue crude oil imports from Iran without penalty after sanctions were reimposed on Tehran.