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India continues with Russian oil buys, cuts shipments from Saudi

Saudi Arabia's decline in India's oil market has coincided with Russia's rise, and ironically occurred amid growing diplomatic ties between Riyadh and New Delhi

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Russian oil has become the mainstay of Indian refiners in only six months, something that took decades for West Asian suppliers, and the US, to achieve

S Dinakar Amritsar
Russia dominated Saudi Arabia in oil supplies as the world’s fastest-growing major economy for fossil fuels in October, relegating the Kingdom to third place. Iraq was India’s top oil supplier, according to the data from Vortexa.

Saudi Arabia’s decline in India’s oil market has coincided with Russia’s rise, and ironically occurred amid growing diplomatic ties between Riyadh and New Delhi.

Saudi Crown Prince Mohammed bin Salman Al Saud is visiting India this month to meet Prime Minister Narendra Modi.

Russian oil has become the mainstay of Indian refiners in only six months, something that took decades for West Asian suppliers, and the US,

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First Published: Oct 31 2022 | 9:02 PM IST

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