https://sputniknews.in/20230703/indias-crude-imports-from-russia-cross-historic-2-million-bpd-mark-in-june-2800140.html
India's Crude Imports From Russia Cross Historic 2 Million Bpd Mark in June
India's Crude Imports From Russia Cross Historic 2 Million Bpd Mark in June
Sputnik India
India imported record amounts of oil from Russia last month, with the figure touching a staggering 2.2 million barrels per day.
2023-07-03T12:31+0530
2023-07-03T12:31+0530
2023-07-03T18:04+0530
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India imported record amounts of oil from Russia last month, with the figure touching a staggering 2.2 million bpd, stats from leading commodity markets and analytics firm Kpler showed.This was the tenth consecutive time when India's Russian crude imports rose in comparison to the previous month.Last month, New Delhi's daily volumes from its close Eurasian ally stood at 1.96 million. Last week, energy experts predicted that Russian oil imports to India will continue to surge in the near future.Arpit Chandna, a crude analyst at Refinitiv, an international firm tracking the oil market, had rightly predicted in a conversation with Sputnik that Russian crude imports to India would touch 2.2 million bpd soon.Notably, the contribution of Ural blends in India's purchases from Russia touched a record high of 1.5 million bpd in June, the data provider said.This again showed that previous reports about a slowdown in Indian imports from Russia were exaggerated as refiners, including both state-run and private firms continue their record buying of discounted oil from Moscow. Since Western countires imposed economic sanctions on Moscow, India has emerged as one of the largest importers of crude from Russia.From less than 2 percent contribution to India's oil basket before February 2022, Russia now has a 46 percent share, making it the leading supplier of crude to the South Asian country.
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India's Crude Imports From Russia Cross Historic 2 Million Bpd Mark in June
12:31 03.07.2023 (Updated: 18:04 03.07.2023) For the last few months, New Delhi's crude purchases from Moscow have broken previous records, with imports crossing the 2 million barrels per day (bpd) mark in June 2023.
India imported record amounts of
oil from
Russia last month, with the figure touching a staggering 2.2 million bpd, stats from leading commodity markets and analytics firm Kpler showed.
This was the tenth consecutive time when India's
Russian crude imports rose in comparison to the previous month.
Last month,
New Delhi's daily volumes from its close Eurasian ally stood at 1.96 million. Last week, energy experts predicted that Russian oil imports to India will continue to surge in the near future.
Arpit Chandna, a crude analyst at Refinitiv, an international firm tracking the oil market, had rightly predicted
in a conversation with Sputnik that Russian crude imports to India would touch 2.2 million bpd soon.
"There seems to be still a scope of nominal
growth in crude intake from Russia around 0.2 to 0.4 million barrels per day" Chandna stated before data for June was unveiled.
Notably, the contribution of Ural blends in India's purchases from Russia touched a record high of 1.5 million bpd in June, the data provider said.
This again showed that previous reports about a slowdown in Indian imports from Russia were exaggerated as refiners, including both state-run and private firms continue their record buying of discounted oil from Moscow.
Since
Western countires imposed
economic sanctions on Moscow, India has emerged as one of the largest importers of crude from Russia.
From less than 2 percent contribution to India's oil basket before February 2022, Russia now has a 46 percent share, making it the leading supplier of crude to the South Asian country.
