Russian crude oil constituted a major 42% of India’s whole oil imports in June, surpassing the 37% share in May. This share exceeded the combined proportion of the next four main suppliers, as reported by Vortexa, an organization that tracks power cargo.
According to an ET report, Russia’s crude oil exports to India noticed a 13% enhance inside a month, reaching 1.92 million barrels per day (mbd) in June.The share of Russian imports surpassed the combined shares of Iraq (16%), Saudi Arabia (8%), the UAE (8%), and the US (7%).
Indian ports acquired more Russian crude oil in June in contrast to the combined volumes discharged in China and Europe. China’s seaborne Russian crude imports decreased by 16% to 1.15 mbd, whereas Europe’s imports dropped by 19% to 396,000 bpd. It is vital to be aware that China and Europe additionally obtain Russian oil by way of pipeline.
“India’s imports of Russian crude in June have reached the highest since last July, driven by weaker import appetite from China,” mentioned Serena Huang, analyst at Vortexa. “With Russia’s crude exports down nearly 5% month-on-month in June, arrivals into India could remain flat to lower in July.” The transportation of oil from Russian ports to India usually takes round a month.
Indian refiners discover Russian crude enticing due to the discounted worth, which is roughly $3-4 per barrel on a delivered-at-port foundation. Although the present reductions are narrower in contrast to the $12-13 per barrel in the early phases of the Ukraine conflict in 2022, they continue to be aggressive in opposition to provides from the Gulf.
Iraq’s provides to India skilled a 22% decline in June, amounting to 754,000 barrels per day (bpd), whereas imports from Saudi Arabia decreased by 36% to 386,000 bpd. However, the United States witnessed a 63% enhance in provides to India, reaching 330,000 bpd.
India’s imports of refined merchandise from Russia elevated by 9% to 162,000 bpd in June. China’s imports of Russian merchandise rose by 20% to 288,000 bpd, whereas Europe’s imports decreased by 9% to 511,000 bpd.
Private sector refiners in India accounted for 44% of the whole Russian crude imports in June, a rise from 40% in May. Urals, the main Russian grade, made up 80% of the general crude imports from Russia in June, a slight lower from 84% in May.
According to an ET report, Russia’s crude oil exports to India noticed a 13% enhance inside a month, reaching 1.92 million barrels per day (mbd) in June.The share of Russian imports surpassed the combined shares of Iraq (16%), Saudi Arabia (8%), the UAE (8%), and the US (7%).
Indian ports acquired more Russian crude oil in June in contrast to the combined volumes discharged in China and Europe. China’s seaborne Russian crude imports decreased by 16% to 1.15 mbd, whereas Europe’s imports dropped by 19% to 396,000 bpd. It is vital to be aware that China and Europe additionally obtain Russian oil by way of pipeline.
“India’s imports of Russian crude in June have reached the highest since last July, driven by weaker import appetite from China,” mentioned Serena Huang, analyst at Vortexa. “With Russia’s crude exports down nearly 5% month-on-month in June, arrivals into India could remain flat to lower in July.” The transportation of oil from Russian ports to India usually takes round a month.
Indian refiners discover Russian crude enticing due to the discounted worth, which is roughly $3-4 per barrel on a delivered-at-port foundation. Although the present reductions are narrower in contrast to the $12-13 per barrel in the early phases of the Ukraine conflict in 2022, they continue to be aggressive in opposition to provides from the Gulf.
Iraq’s provides to India skilled a 22% decline in June, amounting to 754,000 barrels per day (bpd), whereas imports from Saudi Arabia decreased by 36% to 386,000 bpd. However, the United States witnessed a 63% enhance in provides to India, reaching 330,000 bpd.
India’s imports of refined merchandise from Russia elevated by 9% to 162,000 bpd in June. China’s imports of Russian merchandise rose by 20% to 288,000 bpd, whereas Europe’s imports decreased by 9% to 511,000 bpd.
Private sector refiners in India accounted for 44% of the whole Russian crude imports in June, a rise from 40% in May. Urals, the main Russian grade, made up 80% of the general crude imports from Russia in June, a slight lower from 84% in May.
