Deliveries of Russian oil to India break records for 10 months in a row – Kommersant
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The volume of Russian oil imports to India in June again reached record levels. According to the analytical company Kpler, which cites Bloomberg, daily volumes of oil supplies from Russia to India over the past month rose to 2.2 million barrels per day. Record figures are fixed for the 10th month in a row.
Victor Katon, head of Kpler’s crude oil supply analysis department, notes that in June, the volume of Russian oil imported by India once again exceeded the combined volumes of supplies of Saudi Arabia and Iraq. However, according to Kpler forecasts, the volume of oil from Russia that India buys may reach its limit in the coming months due to infrastructure problems and the need to maintain good relations with other suppliers.
Over the past two months, the largest buyer of Russian oil has been India’s state-owned Indian Oil Corp., according to the analyst firm. and the country’s largest holding Reliance Industries Ltd. According to analysts, imports of Russian Urals oil to India in June also reached another record of 1.5 million barrels per day.
In May, the share of Russian oil imported by India also reached a record high of 46%. Bloomberg attributed the increase in supplies to the fact that Russian oil is sold at a lower price than fuel from other countries.
Federal Customs Service of Russia called India is among the countries that have replaced the European Union in the foreign trade of the Russian Federation. India, along with China, has also become major buyers of Russian coal, oil and gas. In Indian Oil spokethat India will increase the share of Russian oil imports to 30% by 2024.
About trade between the two countries – in the material “Kommersant FM” “Rupees are looking for a way out”.
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