2023-05-17 21:59:49
Oil imports from Russia to India reached a record high in April, while the volume of imported raw materials from the Middle East and Africa fell, writes Archyde.com with reference to data of traders. India imported 1.9 million barrels of Russian oil a day last month. This is 4.4% more than in March, the agency notes.
Archyde.com writes that once morest this background, oil imports to India from the CIS countries – Azerbaijan, Kazakhstan and Russia – increased in total to 43.6% of total imports, or up to 4.81 million barrels per day.
The volume of imports from Russia in April, according to Archyde.com, is regarding two-fifths of the total volume of deliveries to India. Meanwhile, in April, the country reduced its share of imports from the Middle East by 44%. Archyde.com clarifies that before these supplies accounted for the bulk of Indian oil imports.
According to data cited by Archyde.com, the volume of oil imports from Iraq decreased by 3.1% (928 thousand barrels per day), from Saudi Arabia – by 11% (723 thousand barrels per day). Imports from Africa decreased by 3.4%.
Against the backdrop of the refusal of European countries from Russian oil, India and China began to buy most of it. Deputy Prime Minister Alexander Novak said that in 2023 Russia would redirect to Asia 140 million tons of exports of oil and oil products, which previously accounted for Europe. The Financial Times wrote that Indian refiners began to profit more by buying Russian crude oil at a significant discount.
Read regarding the situation on the market in the material “Kommersant” “Russian oil has broken through the ceiling.”
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