Daily Energy Report
India oil imports, US Rig count, China NEV sales slow, Permian production growth, Exxon & Chevron profit, India LNG deals, Lithium’s roller coaster, EU impact of US LNG pause, and more.
Chart of the Day: India’s Oil Imports by Source
Figure (1) above shows India’s oil imports by source since the beginning of 2021. It shows the massive rise of imports from Russia after the Russian invasion of Ukraine and the sanctions that the Europeans imposed on Russia. However, these imports declined recently and were replaced by oil from Saudi Arabia. Regardless, the growth in India’s imports in recent months is not as strong as expected by earlier forecasts.