Key Points
The price of crude from Iraq averaged $76.19 a barrel, compared with $78.92 in January, according to data published by Indias ministry of commerce and industry..
Russian supplies averaged $72.14, marginally lower than January...
India and China emerged as a key consumers of Russian crude after many other buyers shunned its barrels due to the war in Ukraine..
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Russian oil to India in June the cheapest since war in Ukraine
07, Aug, 23The average cost of Russian crude arriving in India in June reached the lowest level since the country's invasion of Ukraine over a year ago. The price was $68.17 per barrel, including shipping costs, down from $70.17 in May. India is among the countries that have become reliant on cheaper Russian crude since the war, along with China.
US sanctioned tankers previously shipped Russian crude to India - data
17, Nov, 23Three oil tankers, newly sanctioned by Washington, regularly shipped Russian Sokol crude to India in recent months, shiptracking data from LSEG and Kpler showed.
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India bought Russian oil at $84.2/bbl in October, highest since December
12, Dec, 23By Nidhi Verma NEW DELHI (Reuters) - The average price of Russian oil delivered to top buyer India in October rose to $84.20 per barrel, way above the $60 price cap set by the Group of Seven nations
India's import of Russian oil scales new high in May
04, Jun, 23India Business News: NEW DELHI: India's import of cheap Russian oil scaled another record in May and is now more than the combined oil bought from Saudi Arabia, Iraq, UAE .
Bank of Baroda stops clearing payment for above-cap Russian oil
04, Apr, 23Some Indian refiners were paying in the United Arab Emirates dirham currency for Russian low-sulphur crude priced above the $60 a barrel cap using Bank of Baroda, mainly to Dubai-based traders. The state-run lender told refiners last month that it would not settle payment from Russian barrels bought above the price cap
India exported USD 6.65 bn oil products derived from Russian oil to sanctioning nations: Report
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Oil prices jump 2% on supply worries after large US stock drawdown
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In a first, India’s imports of Russian oil dwarf Iraq, Saudi Arabia flows
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