India cuts crude imports from Russia, buys more from Saudi in Oct

by IANS |



New Delhi, Nov 1 (IANS) India’s crude oil imports from Russia fell by more than 4 pe rcent in October compared to September, according to figures compiled by energy cargo tracker Vortexa.


India imported 1.55 million barrels per day (bpd) of crude oil from Russia in October down from 1.62 million bpd in September.


However, Russia continues to be the largest oil supplier to India, accounting for more than one-third of the country’s total crude imports.


The fall in imports during October is attributed to the lower discounts being offered by Russia which has tended to raise the price above the West-imposed cap of $60 a barrel for Russian oil and as a result of which buyers face difficulties in making payments, according to market analysts.


However, while reducing imports from Russia, India has increased crude purchases from Saudi Arabia in October to 924,000 barrels a day from 523,000 bpd in the previous month, Vortexa data show.


India’s imports of crude oil from Russia steadily increased after the Ukraine war and the country has surpassed Saudi Arabia and Iraq, the earlier top two suppliers to India.


India’s total imports of crude oil which also comes from the US and Africa touched 4.56 million bpd in October. 



Latest News
PM Modi to release Rs 20,000 crore to farmers during Varanasi visit on June 18 Sat, Jun 15, 2024, 03:53 PM
Millwall goalkeeper Matija Sarkic dies aged 26 Sat, Jun 15, 2024, 03:51 PM
Researchers link hot weather with increased headaches for people with migraines Sat, Jun 15, 2024, 03:32 PM
Kangana shares video of PM Modi with Giorgia Meloni; hails his support for women Sat, Jun 15, 2024, 03:29 PM
Water conservation campaign will become a movement in state: MP CM Sat, Jun 15, 2024, 03:28 PM
Congress govt got tight slap from Karnataka court on Yediyurappa matter: Union Min Pralhad Joshi Sat, Jun 15, 2024, 03:26 PM
Wayanad or Raebareli? Rahul Gandhi likely to decide on Monday Sat, Jun 15, 2024, 03:23 PM
Indian stock markets breaking global benchmarks in equity market cap Sat, Jun 15, 2024, 02:56 PM
PM Modi hails India-Italy friendship after Meloni shares 'Melodi' selfie video Sat, Jun 15, 2024, 02:53 PM
Kuwait fire: 14 Keralites under treatment out of danger Sat, Jun 15, 2024, 02:28 PM
Scholz calls Swiss-hosted Ukraine talks an early step to forge peace Sat, Jun 15, 2024, 02:27 PM
US aid pier off Gaza to be temporarily removed due to bad weather Sat, Jun 15, 2024, 02:13 PM
Philippines says 21 of 22 Filipino crew on attacked ship in Red Sea rescued, safe Sat, Jun 15, 2024, 02:11 PM
Swati Maliwal case: Judicial custody of CM Kejriwal's aide Bibhav Kumar extended Sat, Jun 15, 2024, 02:04 PM
Will work towards fulfilling PM Modi's semiconductor initiatives: Minister Kumaraswamy Sat, Jun 15, 2024, 01:49 PM