India's Oil Output In June Falls To Lowest In Four Months

India's crude oil production in June fell 6.8 per cent from a year earlier to about 2.69 million tonnes, the lowest since February, provisional data issued by the government showed on Monday.

Natural gas output was 1.6 per cent lower at 2.64 billion cubic metres during the same period, the data showed.

Refiners processed 20.30 million tonnes of crude oil in June, the lowest since February.

Refinery output declined 7.1 per cent compared with the same period last year, the Ministry of Petroleum and Natural Gas said in the release, as many state refiners shut units for maintenance. Among the key refineries affected by shutdowns in June were Reliance's 330,000 barrels-per-day (bpd) Jamnagar refinery and Indian Oil Corp's 120,000 bpd Barauni refinery.

Crude output in May had dipped about 7 per cent from a year earlier to about 2.80 million tonnes. Output has been declining month-on-month since December 2017.

Oil minister Dharmendra Pradhan said on July 16 the country had adequate oil supplies to compensate for lost imports from Iran.

India halted imports from Iran after the United States in May withdrew exemptions to import crude from Iran despite sanctions against the Middle East producer.