India's Russian crude imports fall 29% from July peak as China boosts buying
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- ✓India’s Russian crude imports fell 29 percent from the July peak to 1.82 million barrels per day in September.
- ✓Sumit Ritolia from Kpler said, "tighter availability and stronger competition from China have also played an important role." Meanwhile, Venezuelan oil has returned to India’s import basket after being largely absent.
Story at a Glance
- Category
- MARKET
- Reported By
- Business Line
- Reading Speed
- 3 Minute(s)
- Market Focus
- India Economy
India remained the world's largest destination for Russian crude oil in September, but its imports fell sharply from mid-year highs as stronger Chinese buying tightened supply, according to an analysis based on Kpler ship-tracking.
India took around 1.82 million barrels per day (bpd) of Russian crude in September against about 1.49 million bpd for China, Kpler data showed. The figure is down from 2.6 million bpd in June and 2.57 million bpd in July, a fall of roughly 29 per cent from the July level. Imports were 2.02 million bpd in August.
Russian crude imports ease amid tighter supply
Sumit Ritolia, senior manager (modelling) at Kpler, said the slowdown should not be read solely as a reaction to US tariff threats.
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