India substantially increased its monthly imports of Russian oil in November, data from Kpler and Vortexa have shown.
The figures revealed a significant rise of 5-9% from the previous month, bringing India's intake to 1.68-1.73 million barrels per day (bpd).
The figures revealed a significant rise of 5-9% from the previous month, bringing India's intake to 1.68-1.73 million barrels per day (bpd).
According to data from both Kpler and Vortexa, imports from Russia in October reached 1.58 million bpd and 1.6 million bpd, respectively.
"India has been roaring back to strength ever since its autumn refinery maintenance period was completed by early November, so now almost every refiner is ramping up runs to satiate growing domestic demand," Kpler's crude analyst Viktor Katona said.
"Urals delivered to India still comes in at around $4 to $5 per barrel to Dubai, so it maintains a competitive edge over term deals from the Middle East," Katona added.