India's Russian oil imports up 3.3% in Oct from Sep, shows trade data

India, the world's third biggest oil importer and consumer, has been gorging on Russian oil

A sharp fall in global crude benchmarks will reduce costs of fuel, both oil and gas, to Indian consumers if State-run oil companies choose to pass them on
India's overall imports during the month totalled 4.81 million bpd. | Representational
Reuters
1 min read Last Updated : Nov 21 2024 | 3:45 PM IST
India's monthly intake of Russian oil increased by 3.3 per cent in October to a three-month high of 1.95 million barrels per day (bpd), accounting for about two-fifths of overall imports, data provided by trade sources show. 
India, the world's third biggest oil importer and consumer, has been gorging on Russian oil after some nations cut purchases from Moscow and imposed sanctions over its full-scale invasion of Ukraine in February 2022. 
India's overall imports during the month totalled 4.81 million bpd, up 2 per cent on the previous month, the data showed.
Russia continued to be the top oil supplier to India, followed by Iraq and Saudi Arabia, the data showed. 
Data includes some crude parcels that arrived in October but discharged in November. It also includes some oil parcels that arrived in September and were discharged in October.
*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

Topics :Oil importsIndia Russiaenergy sectorSaudi Arabia

First Published: Nov 21 2024 | 3:45 PM IST

Next Story