September Crude Imports Hit 5-Month High As Business Activity Pick-Up

India’s crude oil imports in September hit a five-month high, government data showed on Wednesday, as a pick up in economic activity and mobility led to higher fuel demand.

Crude oil imports in the world’s third largest oil consumer and importer rose 16% to 17.61 million tonnes from a year earlier, according to data on the website of the Petroleum Planning and Analysis Cell.

“India’s September crude oil imports climbed to highest levels since April, a sign that the reopening of the economy continues,” said Edward Moya, senior market analyst at brokerage OANDA.

“Indian refiners see crude demand roaring back as driving picks up and on expectations for a strong return of international travel in November.”

Reliance Industries Ltd, the operator of the world’s biggest refining complex, imported nearly 12% more oil in September than in August.