Key Points
Indias imports of cheap Russian oil set another record in May, with the OPEC+ producer wresting more market share from Saudi Arabia..
The South Asian nation took 1.96 million barrels a day from Russia last month, 15% more than the previous high in April, according to data from Vortexa Ltd..
Shipments from Saudi Arabia slipped to the lowest level since February 2021, figures from the shipping analytics company show...
The average cost of Russian crude including freight costs landing on Indian shores in April was $68.21 a barrel, according to data from the Ministry of Commerce and Industry..
Indian refiners continue to show a voracious appetite for Russian crude given their discounts relative to Middle Eastern supplies, according to Serena Huang, an analyst at Vortexa..
You might be interested in
India took even more Russian oil last month, crowding out Saudi Arabia
01, Jun, 23India Business News: India's imports of cheap Russian oil reached a new record in May at 1.96 million barrels a day, with the OPEC+ producer increasing its market share re
India reduces import of Russian crude oil over pricing
12, Jan, 24The development has coincided with reports of more than a dozen Russian tankers being diverted from India since December | Latest News India
India's fuel exports to EU up 572% since Ukraine war
14, Jun, 23India Business News: NEW DELHI: Export of refined products like jet fuel or diesel from India to the European Union has increased from 1.
India imports of Russian, Iraqi oil rebound in September
29, Sep, 23International Business News: India's oil imports from Russia increased in September, following a seven month low in August, as prices fell compared to Middle Eastern oil. India, t
India becomes Europe's largest supplier of refined fuels after Russian oil ban
30, Apr, 23Europe's reliance on Indian crude oil products has grown since the ban on Russian oil. Its refined fuel imports likely to surge above 360,000 barrels a day.
Explained: Why India's fuel demand is rising?
10, Mar, 23Refiners in India, which rarely used to buy Russian oil because of costly logistics, have emerged as Russia's key oil client, snapping up discounted crude shunned by Western nations since the invasion of Ukraine last February.
‘Wanted to get cheap Russian crude oil', Imran Khan hails India's foreign policy
10, Apr, 23India is the world's third-largest oil-consuming and importing nation. It imports 85% of its crude oil needs. .Imran Khan hailed Prime Minister Narendra Modi's decision to purchase cheap oil from Russia despite pressure from the United States.
How India is reshaping global fuel flows using Russian oil?
31, Mar, 23International Business News: MUMBAI: India is snapping up discounted crude from Russia, refining it and selling it, becoming a key supplier to Europe as it reshapes global fuel fl.
Asia demand for Saudi oil holds steady despite price cuts
11, Jan, 24Other News News: Chinese and other Asian refiners show little increase in demand for Saudi crude oil in February despite price cuts. Refineries had already completed p
Little gains: India saved just $2 per barrel even after Russia’s ‘deep discounts’
06, Mar, 23As per the analysis, cheaper Russian oil lowered the average landed price of imported crude for India -- the world’s third-largest consumer of crude oil -- by just about $2 per barrel during the nine-month period.