Jaipur Investment：India continues to rise to Russian crude oil imports
India continues to increase imports to Russian crude oil because Russia is still the largest crude oil supply country in the world’s third largest oil importer.Reuters reported by Reuters’ oil tankers showed that India’s imports of Russian crude oil in September increased by 11.7%over August.
Data show that India imported about 1.9 million barrels of crude oil from Russia last month, accounting for about two -fifths of India’s total crude oil imports (about 4.7 million barrels/day) in September.Due to the weakened seasonal demand for monsoon, the total imports of Indian crude oil in September were only slightly higher than August.However, according to data obtained by Reuters, imports increased by 8.5%compared with September 2023.Jaipur Investment
According to the data, the first six months of the Indian finance year as of March 2025, that is, from April to September, India’s imports of Russian crude oil have increased by 9.1%to 1.91 million barrels/day.Russia is still the largest oil supply country in India, leading in Iraq and Saudi Arabia.Russia’s leading advantage over Iraq is more than twice that of India because India imports about 867,600 barrels of crude oil from Iraq last month.Guoabong Stock
Indian Petroleum Minister Hardeep Singh Puri told Reuters last month that India will not change its energy policy, buy oil and natural gas at a low price, and will continue to buy cheaper Russian crude oil supply.Puri said: "If a entity is not sanctioned, there is no doubt that I will buy it from the cheapest supplier."
The world’s third largest crude oil importer, India, relies on imports to meet more than 85%of crude oil consumption, which has grown simultaneously with the expansion plan of economic and refineries.In the past two years, India has become the main buyer of Russian crude oil, and the attraction of cheap crude oil supply has made Russia the largest crude oil supply country in India.(Xiao Chen Compilation)
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