“Imports of Russian oil to India decreased by 18% in July-August.”, — write: www.epravda.com.ua
Imports of Russian oil to India decreased by 18% in July-August.
About this informs The Moscow Times.
India’s oil imports from Russia fell 18.3% to about 1.7 million barrels per day in August compared to the previous month due to lower refining volumes at some refineries.
China increased its purchases of Russian oil last month, regaining the status of Moscow’s largest customer; before that, in July, the place of the largest buyer of oil from the Russian Federation was occupied by India for the first time.
The share of Russian oil in India’s imports fell to around 36% in August after rising for five consecutive months. In July, Russian oil accounted for about 44% of Indian imports.
Despite the decline in share, Russia remained the top oil supplier to India in August, followed by Iraq and Saudi Arabia, according to the data.
Overall, India, the world’s third-largest oil importer and consumer, imported 4.7 million barrels of oil per day in August, about 1% less than in July.
Oil imports from Saudi Arabia to India last month fell to the lowest level since July 2023 at around 498,200 barrels per day, data showed.
Indian refiners also received about 138,000 barrels of oil per day from Canada and 254,000 barrels per day from the United States in August, according to the data.
Due to the decrease in the supply of Russian oil, the share of OPEC countries in the total volume of purchases by India in August increased to a four-month maximum, which was due to the increase in purchases of Iraqi oil.
However, the share of raw materials from OPEC in Indian imports fell to a historic low in the first five months of the fiscal year that began in April.
The share of Middle Eastern oil in India’s crude oil imports rose to 44.6% in August from 40.3% in July. In April-August, the region’s share decreased to 44% from approximately 46% in the same period a year earlier.
We will remind:
In Indian Govt confessedwhich buy Russian oil without any doubts, even if it is not under sanctions.