India’s fuel exports tumbled to the lowest level in nearly four years in May as a push to ensure domestic supplies during the Iran war shock along with refinery maintenance curbed overseas flows.
Outbound shipments of products including diesel, gasoline and jet fuel averaged about 878,000 barrels a day last month, the lowest since October 2022 and down 31% from a year earlier, according data analytics firm Kpler Ltd.
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The conflict in the Middle East has led to the near-closure of the crucial Strait of Hormuz, choking off flows of crude and fuels to global customers, including India. Nations across Asia scrambled to ensure domestic requirements wouldn’t be significantly disrupted by the war by curbing some of their exports.
