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India Buys Bulk of Urals in June


India bought 60% of all Russian Urals oil exports in June, while demand from China slipped to 7% according to Refinitiv.

  • Urals is Russia’s main export grade from its European ports and represents about a half of total Russian oil exports.
  • Russian oil production cuts and higher refinery runs hit supplies of Urals to the Chinese and Turkish markets in June, while India retained its top share in purchases according to Refinitiv.
  • In June, oil shipments from the Russian ports of Primorsk, Ust-Luga and Novorossiisk fell to 9.4 million tonnes (2.3 mn bpd) from 10.32 million tonnes (2.42 million bpd) in May, when loadings from the state’s western ports were at their highest since 2019.

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