India crude imports hit record on Russian rebound, US oil, price dip

India imported 1.91 million bpd of Russian crude in March, 30 per cent higher than in February and flat from a year earlier

India’s overall crude imports reached a record in March as crude oil prices declined by around 6 per cent and shipments of Russian oil recovered from a 14-month low in February due to expanding discounts, according to initial estimates derived from ship-tracking data. Higher imports reflect a growing dependence on overseas suppliers to meet domestic consumption, industry officials said.

 

Overall imports totalled a record 5.31 million barrels per day (bpd) as Indian refiners added capacity this year while working their refineries at full capacity in the final month of the financial year to show good results, according to data as