Russia pushes Saudi to 3rd place to become India’s 2nd-biggest oil supplier

Published June 14, 2022 08:46 AM IST

After the war in Ukraine, Russian crude oil refiners became available at deep discounts. Industry data shows that Indian refineries bought about 25 million barrels of Russian oil in May, or more than 16 percent of all their oil imports. Data shows that Russian-based crude oil reached 5 percent of India’s total marine imports for the first time in April, down 1% over 2021 and Q1 2022. India, the world’s third largest oil-importing and consuming country, has long advocated the purchase of crude oil from Russia compared to India’s total consumption. View this report to learn more.

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