India imported record oil from Russia, know how much import increased from which countries

Russian Oil Import: There has been a record increase in India’s import of Russian oil. Oil imports in January were 1.4 million barrels per day, which is 9.2 percent more than in December. Moscow still remains the largest importer of oil for India, followed by Iraq and Saudi Arabia.

Last month, 27 per cent of India’s oil imports came from Russia, the world’s third largest consumer, according to trade data. In fact, India’s crude oil imports increase in January and December, as refiners import more oil to increase their annual consumption and focus less on maintenance.

Imports were reduced due to high expenditure

Since the war between Ukraine and Russia, the oil imported from Russia in India had decreased, because the cost of importing from here had increased due to the war. Now the refiners of India have shown interest in buying it and it is seeing an increase since last February. The import of Russian oil has increased more in India than in other countries.

Canada fifth largest supplier country

Russia’s Sakol crude oil imports were at an all-time high of 100,900 bpd last month. According to the data, Canada has been the fifth largest supplier of crude oil to India after the United Arab Emirates during January. Oil imports from Iraq were at a seven-month high of 983,000 bpd in January, up 11 per cent from December.

Iraq was a major oil importer for 10 months

During April to January i.e. for 10 months of the financial year, Iraq has been the largest oil importing country. Thereafter, the biggest supplier has been Russia. And Saudi Arabia is at number three. According to statistics, the cost of importing oil from Russia has reduced by 48 percent because of the reduction in the price of crude oil in OPEC countries.