Soaring Imports Push India’s Crude Stocks to Near 1-Year High

India’s strategic and commercial crude oil inventories have jumped to a nearly one-year high as the world’s third-largest crude oil buyer boosted its imports to a record high in June.

As at the end of June, India’s crude oil stocks held in strategic, commercial, and refinery storage had increased to 104 million barrels, up from 90. 5 million barrels at the end of April, according to data from commodity intelligence provider Kpler cited by Indian outlet Economic Times.