In November 2022, The U.S. sourced refined petroleum products worth $588 million from India. Analysts said that the imports increased amid the high demand for crude ahead of the U.S. holiday season.
Europe’s November imports of petroleum products from India also showed significant changes: Portugal, Belgium, and Italy increased imports by 1,600, 535, and 17 percent, respectively.
India is a key Asian refining hub, with an installed capacity of nearly 250 million tons per annum across 23 refineries.
In November, the Netherlands was the topmost importer of petroleum products, including jet fuel, worth $1.26 billion. The UAE was the second largest buyer of refined products from India, importing products worth $667 million in the month.
