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Russia may be India's biggest crude supplier in June, a historic first

Russian oil is on pace to account for 21 per cent of all imports into India, shrinking the shares of Iraqi and US crude

Russia replaces Saudi Arabia as China's biggest crude oil supplier
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S Dinakar
India is turning away from its favourite crude—Iraqi Basrah, a staple for state-run refiners led by IOC. Displacing Iraq is Russia, which may become India's biggest crude supplier in June for the first time, pushing Iraq to the second position. Deeply discounted Russian Urals have also shrunk the share of US crude, once among India's top four oil suppliers.

Russian oil is on pace to account for 21 per cent of all imports into India at 985,000 barrels a day in June, up from 738,000 barrels a day in May. Indian seaborne arrivals from Iraq are set to finish June

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First Published: Jun 30 2022 | 4:16 PM IST

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