OIL & YOUR COUNTRY / India
OIL & INDIA
India is a net importer of 4,660.2 kb/d of petroleum liquids (2024: consumes 5,598.9, produces 938.6 kb/d — derived from EIA international statistics). Brent rose $9.36 over the past month, to $112.44 (2026-10-22).
PAST MONTH'S MOVE × NET POSITION 4,660.2 kb/d x 1,000 x +$9.36 = +$43.6M/day
ANNUALIZED IF THE MOVE HOLDS +$15.92B/yr
YESTERDAY'S SESSION ALONE 4,660.2 kb/d x 1,000 x +$3.62 = +$16.9M/day
A rise costs it; a fall pays it. Sign follows the move.
First-order border-price exposure: the country's net oil position re-priced at the Brent move, nothing else. It is not a realized import bill or fiscal forecast — it excludes term-contract lags, benchmark differentials (Dubai/Oman, WTI), hedging, product mix, and subsidies. An exact answer to one defined question.
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