India’s crude oil imports edged up slightly in November, rising 0.2% from the previous month to 21.06 million metric tonnes, according to official government figures released on Monday. This marks the highest monthly import volume recorded since March, underlining the country’s sustained energy requirements.

As the world’s third-largest importer and consumer of crude oil, India’s import data is closely tracked as a key barometer of domestic fuel demand and industrial activity.

On an annual basis, crude purchases saw a sharp increase of 11.1% compared to November last year, when imports stood at 18.95 million metric tonnes, data from the Petroleum Planning and Analysis Cell (PPAC) showed.

In contrast, the trade in refined petroleum products showed a decline. Imports of petroleum products dropped 8.6% year-on-year to 4.25 million metric tonnes, while exports of refined fuels slipped 1.7% to 5.25 million metric tonnes during the same period.

Industry sources noted that Reliance Industries continues to receive shipments of Russian crude from Rosneft after securing a temporary waiver from the United States, which has imposed sanctions on the Russian oil major. The exemption reportedly allows supplies to continue for a month.

Despite expectations of reduced Russian oil flows, India’s purchases from Russia are projected to exceed 1 million barrels per day in December. Refiners have reportedly resumed buying from non-sanctioned suppliers offering crude at significant discounts.

Meanwhile, India’s refining capacity is also set for expansion. Chennai Petroleum Corporation plans to scale up capacity at its Manali refinery in southern India from 210,000 barrels per day to 280,000 barrels per day, while also entering the fuel retail business as part of its long-term growth strategy.