Russian oil supplies to India continue to decline – Kommersant
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India’s Russian oil imports have been declining for the second month in a row and are expected to continue declining until October. Bloomberg with reference to Kpler data. In July, daily shipments fell to 2.09 million barrels, compared with 2.11 million barrels in June, according to analyst firm Kpler. Oil imports from Saudi Arabia to India also fell, while those from Iraq rose to a five-month high, the company added.
India’s imports from Russia could fall to 1.6 million barrels a day in July, the lowest level since January, Kpler forecast. However, Russian imports are expected to recover from October and could rise to 2.2 million barrels per day, which would be a record level of demand.
Against the backdrop of anti-Russian sanctions, India and China have become the main buyers of Russian coal, oil and gas. In Indian Oil countthat India will increase the share of Russian oil imports to 30% by 2024. According to Kpler, in May Russia provided almost half of the oil supplied to India, and in June the volume of its imports also has reached record scores. At the same time, according to the Times of India, discounts on Russian oil fell by 87%.
About the situation on the market – in the publication “Kommersant” “Oil supply is declining following demand”.
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