India's June petroleum exports drop by 10%
India's petroleum product exports dropped by about 10% in June, landing at 1.19 million barrels per day—down from May and a bit lower than last year too.
Still, India managed to keep its export game strong across different regions.
Europe suddenly became a major buyer
Europe suddenly became a major buyer, with imports from India jumping nearly sixfold as the continent looked for alternatives after cutting back on Russian oil.
Exports to the UAE and Australia also saw solid growth.
On the flip side, shipments to Singapore fell sharply by 42%, and US-bound exports slipped too—even though energy ties are growing.
Ongoing tensions in West Asia making things trickier
Refineries are still running at high capacity, but some had to slow down for maintenance.
Analyst Sumit Ritolia pointed out that steady crude supplies could help boost future exports, especially if global demand holds up.
But ongoing tensions in West Asia and shipping delays around the Red Sea are making things trickier—and pricier—for everyone involved.
The good news? New refinery expansions coming by late 2025 could give India more muscle in the export market.