Crude oil imports jump 62% in August amid supply concerns

• Pakistan’s crude imports rise to 1.238m tonnes in August.
• Imports jump 62% from 763,702 tonnes recorded in July.
• Pakistan imports 2.001m tonnes of crude in July-August.
  

Pakistan’s crude oil imports rose sharply to 1.238 million tonnes in August 2026 from 763,702 tonnes in July, as local refineries increased purchases to build inventories amid uncertainty over future crude supplies and international market conditions.

According to data compiled by the oil industry, the country imported 2.001 million tonnes of crude oil during the first two months (July-August) of the current fiscal year 2026-27. Of the total, 1.658 million tonnes were imported through Keamari, while 343,344 tonnes arrived through the Single Point Mooring (SPM), The News reported on Wednesday.

Industry sources attributed the sharp increase in crude imports primarily to concerns over future supply availability and uncertainty surrounding international oil markets.

“Given the prevailing situation and uncertainty over where crude would come from and how supplies would be managed, refineries that previously ordered three cargoes every month or two have started ordering two cargoes every month,” an industry source said.

Pakistan Refinery Limited (PRL) has also increased its crude procurement to around two cargoes a month. The source said a typical crude cargo for Pakistan is around 1.2 million to 1.3 million barrels, while Parco normally receives around six to seven vessels a month. Increased procurement by refineries has therefore contributed to the rise in overall crude imports.

“Refineries were concerned about what the situation might look like in the coming months and how supplies would be managed, so they opted to import more in advance,” the source said.

The higher crude imports come as refiners seek to ensure uninterrupted feedstock availability amid uncertainty in international markets and potential changes in supply conditions.

The increase was particularly pronounced in August, when crude imports rose by around 62% month-on-month (MoM), from 763,702 tonnes in July to 1.238 million tonnes.

The elevated import volumes also indicate that refineries have been building crude inventories ahead of an expected increase in domestic demand during the harvesting season.

The harvesting season is expected to begin around October 10-12, when demand for petroleum products, particularly high-speed diesel, is likely to increase. Industry sources said refineries and oil marketing companies have also been maintaining higher diesel inventories ahead of the seasonal pickup in demand.