The Indian oil imports recorded the highest level in nearly three years, reaching more than 5 million barrels per day (mmbbl/d), as its refiners raised the production following the increase in demand, Reuters reported quoting data from trade sources.

India’s oil imports increased by 29% in December, compared to the previous months and jumped by 11.6% compared to the same period last year. After the fuel consumption increased for the fourth running month, the oil imports recorded their highest level in 11 months during December.

Yet, the annual imports dropped to 4.04 mmbbl/d in 2020 versus the previous year which is the lowest in five years.