Protect domestic demand by sacrificing exports—Kpler’s data clearly highlights the issue. This wartime logic of energy security is something India has also figured out.

Coin World News reports that in May, India’s fuel export volume fell to its lowest level in nearly four years. This was due to measures taken to ensure domestic supply (i.e., supply-security measures during the Iran war crisis) and refinery maintenance work, which limited export volumes. According to data from analytics firm Kpler, last month, the average daily product export volume—including diesel, gasoline, and aviation fuel—was about 878,000 barrels per day, the lowest level since October 2022 and down 31% year over year.