Russian crude oil imports hit 10-month high
India’s imports of the Russian crude oil surged to a 10-month high of 1.96 million barrels per day in May, driven by continued availability at significant discounts as compared to global benchmark prices, according to ship-tracking data from Kpler.
India, the world’s third largest oil importing and consuming nation, bought from abroad around 5.1 million barrels of crude oil, which is converted into fuels like petrol and diesel in refineries.
Of this, Russia was the largest supplier, accounting for over 38 per cent of the supplies, while Iraq remained the second-largest supplier, with 1.2 million bpd of sales to India.
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