The crude oil import bill has jumped 56.3 per cent to Rs 71,578 crore (Rs 715.78 billion) in first seven months of this fiscal year on the back of a steep rise in international crude oil prices.

Exports rose 6.2 per cent to 9 million tonnes, while imports of refined products rose 25 per cent to 4.17 million tonnes over the same period.

In October, crude oil imports were 8 million tonnes or about 1.89 million bpd, up 1.1 per cent from the same month last year, but 6.2 per cent lower than September mainly because some refining units were shut for maintenance or repair.

The export of refined products in October, at 1.51 million tonnes, was 7 per cent lower than September's 1.66 million tonnes, but 33 per cent higher than October last year, when refiners reported a sharp dip in overseas sales.

Diesel exports in October were 8.2 per cent lower than September as domestic sales of the fuel rose.

Domestic sales of refined products by state-run firms in October-December, the first seven months of the fiscal year, have risen more than 5 per cent, while crude throughput at 18 refineries rose 6.35 per cent to 2.53 million bpd.

Domestic crude output in April-December was 681,000 bpd, 3.6 per cent over the same period last year.

Petroleum Minister Mani Shankar Aiyar said oil ministers of West Asian crude oil producing countries would attend a buyer-seller conference in New Delhi on January 6 to discuss stability, security and sustainability of oil supplies.

"All West Asian oil producers have confirmed their attendance at the Asian oil buyers and sellers conference," he said on the sidelines of a conference.

Seven oil producers -- Kuwait, Saudi Arabia, Iran, Qatar, Oman, the United Arab Emirates, Malaysia and Indonesia -- and four principal buyers -- India, China, Korea and Japan -- would be discussing "stability, security and sustainability of oil supplies", he said.

The government is still to get a confirmation from Malaysia, Indonesia, Japan and China.

"We will be discussing all the dimensions of oil economy, from marketing, investment, research and development to environmental issues," he said.

The buyer-seller conference is an attempt by India to bring about a consensus among key Asian oil producers and buyers for creating a different price benchmark than the prevailing ones based in London and New York.