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India Increases Russian Oil Imports, Reduces Saudi
India Increases Russian Oil Imports, Reduces Saudi
Sputnik India
The share of Russian oil in India's import market increased significantly following the launch of Russia's special military operation in Ukraine, with Russian... 02.10.2023, Sputnik India
2023-10-02T15:39+0530
2023-10-02T15:39+0530
2023-10-02T15:40+0530
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India increased its oil imports from Russia by 16% in September, according to energy analytics.According to data from LSEG, Kpler and Vortexa, Russian oil deliveries to India rebounded in September after hitting a seven-month low in August following a drop in Middle East oil prices.Vortexa estimated Russian oil imports at 1.52 million barrels per day, up from 1.44 million barrels per day in August.According to data sourced from Kpler, the amount of Russian oil imported by India experienced a notable surge in September, peaking at an impressive 1.8 million barrels per day. This represents a substantial increase from the slightly below 1.5 million barrels per day recorded in August. Meanwhile, India's imports from Saudi Arabia decreased to around 676,000 barrels per day in September, marking a 10% decline compared to August, according to LSEG data.
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India Increases Russian Oil Imports, Reduces Saudi
15:39 02.10.2023 (Updated: 15:40 02.10.2023) The share of Russian oil in India's import market increased significantly following the launch of Russia's special military operation in Ukraine, with Russian oil deliveries to India increasing by more than 40 per cent.
India increased its oil imports from Russia by 16% in September, according to energy analytics.
According to data from LSEG, Kpler and Vortexa, Russian oil deliveries to India rebounded in September after hitting a seven-month low in August following a drop in Middle East oil prices.
In September, India imported around 1.55 million barrels per day of Russian oil, up 16% on August. In contrast, imports from Iraq rose by 17% to around 1.1 million barrels per day, according to LSEG data.
Vortexa estimated Russian oil imports at 1.52 million barrels per day, up from 1.44 million barrels per day in August.
According to data sourced from Kpler, the amount of Russian oil imported by India experienced a notable surge in September, peaking at an impressive 1.8 million barrels per day. This represents a substantial increase from the slightly below 1.5 million barrels per day recorded in August. Meanwhile, India's
imports from Saudi Arabia decreased to around 676,000 barrels per day in September, marking a
10% decline compared to August, according to LSEG data.
According to Russian media, quoting sources, "Indian oil refineries typically purchase crude oil about two months in advance of processing. They buy Russian oil mainly on the spot market, while relying heavily on futures contracts for Middle Eastern crude. India's imports from Russia are expected to approach the 2 million barrels per day mark once oil refineries complete maintenance work on their units by the end of October".
