Menafn reported that Morocco's crude oil imports in the year to May reached MAD 5.44 billion falling 62% compared to the same period of 2008.

The Foreign Exchange Office has pointed out that the volume imported of crude oil during this period also fell 25.2% standing at 1.94 million tonnes.

This situation is a result of lower energy prices in the international markets. Energy imports weigh heavy on Morocco's budget. In 2008, Morocco's crude oil imports stood at MAD 30.8 billion registering a rise of 17.5% relative to 2007.

(Sourced from Menafn)