India’s September imports of Russian oil rose 18.5% from August after falling for two months, making it the country’s second-largest crude supplier after Saudi Arabia, according to energy cargo tracker Vortexa.
The import of 879,000 barrels per day (bpd) of Russian oil in September is the second highest in a month ever for India after June’s 933,000 bpd, The Economic Times reported.
"India may consider importing more Russian crude this quarter as refiners ramp up runs to meet the seasonal rise in domestic demand and higher export demand from Europe, but it all hinges on prices of Russian crude offered to them relative to the rival Middle East and West African grades," an analyst at Vortexa said.
