Russian crude makes up half of India's oil imports in June
New Delhi, June 22 -- India's imports of Russian crude are averaging 2.66 million barrels per day (mbpd) in June, up nearly 40% from May, lifting Moscow's share of the country's oil purchases to about 50% as refiners continued to favour discounted barrels amid disruptions in West Asia.
Russian crude arrivals averaged 1.91 mbpd in May and more than doubled from 1.04 mbpd in February, when shipments were disrupted by US sanctions, according to data from trade intelligence firm Kpler. The increase has cemented Russia's position as India's largest crude supplier, even as concerns over shipping through the Strait of Hormuz have pushed buyers to diversify sources and routes.
"India's imports remained strong through June, supported by continued di...
To read the full article or to get the complete feed from this publication, please
Contact Us.