New Delhi: Crude oil imports of India from Russia touched an all-time high in March. As per data released by energy cargo tracker Vortexa, the crude oil imports from Russia reached 1.64 million barrels per day in March. This is now double of the purchases from Iraq. Iraq is the traditional top oil supplier of India.
Currently, Russia is the single largest supplier of crude oil of India. Russia supplied more than one-third of all oil India imported for sixth straight month. At present, Russia’s share of India’s imports is at 34%. It was at 1% before the Russia-Ukraine conflict in February 2022.
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The total oil supply from Iraq was 0.82 million barrels per day (bpd). Iraq has been India’s top oil supplier since 2017-18. Saudi Arabia was India’s second largest supplier of crude oil in March. India imported 986,288 bpd oil to India. Iraq with 821,952 bpd sales was the third biggest supplier. UAE is the fourth largest supplier at 313,002 bpd. The US supplied 136,464 bpd.
India is world’s third-largest crude importer after China and the United States.
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