(Repeats story published on Tuesday with no changes to text)
* Dec imports up 29% from Nov, 11.6% higher yr/yr - data
* OPEC's share shrinks to record low of 67% in Dec - data
By Nidhi Verma
NEW DELHI, Jan 19 (Reuters) - India's crude oil imports in
December soared to the highest levels in nearly three years to
more than 5 million barrels per day (bpd) as its refiners
cranked up output to meet a rebound in fuel demand, data from
trade sources showed.
India's year-end rush for crude supplies coincided with
stronger demand from north Asian buyers during winter, boosting
prices and an accelerating de-stocking of floating storage
globally. December oil imports by India, the world's third biggest
crude importer and consumer, were about 29% more than the
previous month and about 11.6% higher than a year earlier, the
data showed, after fuel consumption rose for a fourth straight
month to an 11-month high in December. O/INDIA2
"India's refinery utilisation rates are also nearing full
capacity and probably refiners are replenishing inventory
anticipating higher prices during winter," said Ehsan Ul Haq,
analyst with Refinitiv.
"This is the harbinger of a recovery in fuel demand and
improving refining margins." DUB-SIN-REF SGCSCOKSPOT
However, India's annual crude imports declined by about a
tenth in 2020 from the previous year to 4.04 million bpd, the
lowest in five years, data compiled by Reuters showed.
The share of India's imports from the Organization of the
Petroleum Exporting Countries, including supplies from the
Saudi-Kuwait Neutral Zone, fell to a record low of 67% in
December. OPEC's average share for the first nine months of
India's current fiscal year which ends in March was about 74%.
While India cut back imports from Middle Eastern, African
and U.S. oil in December from the previous month, it marginally
lifted its intake of Latin American and Caspian Sea oil.
In December, Iraq remained the top oil supplier to India
followed by Saudi Arabia, United Arab Emirates. Nigeria emerged
as the fourth biggest supplier, pushing the United States down
to the sixth position just after Brazil.
<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
Share of various regions in India's oil imports https://tmsnrt.rs/3odhqte
OPEC's share of India's oil imports drop to record low https://tmsnrt.rs/3m84LpS
India's oil imports from key suppliers https://tmsnrt.rs/2UWjVTn
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>