Russia maintains its position as India’s top oil supplier

Russia continues to be a top oil supplier to India, according to energy cargo tracker Vortexa.

India's imports of Russian crude from April to September this year increased by 2.5% compared to the same period last year, News.Az reports, citing The Economic Times.

As noted by Serena Huang, an analyst at Vortexa, “India continues to be Russia's largest seaborne crude export destination, with Russia's discounted crude prices being the key driver of refiners' robust import appetite.”

Russia holds a dominant 39% share of India's crude supply, followed by Iraq at 18% and Saudi Arabia at 13%. The United Arab Emirates saw its share rise to 8% during April-September, up from 5% the previous year, while the US share increased to 5.5%. Overall, total oil imports to India have grown by 4% this year.

Recent reports indicate that Russian oil supplies to India increased by 6.4% month-on-month in September, reaching 1.88 million barrels per day. As the world’s third-largest oil consumer, India relies on imports for over 85% of its oil needs, sourcing crude from more than 30 countries.

News.Az