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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
OIL
India’s share of OPEC crude imports in the fiscal year ending March 2023 fell to 59%, compared with 72% a year earlier amid increased flows from Russia according to a Reuters analysis.
- India’s oil imports in 2022/23 rose by 9% from a year earlier, as state refiners cranked up runs to meet rising local fuel demand after private refiners turned to exports instead of selling fuel at below-market rates domestically, the data showed.
- India imported 1.6mbpd of Russian oil in 2022/23, accounting for 23% of total imports. “Russian crude is already cheaper than the similar Middle Eastern grades and it seems OPEC is harming itself by a reduction in output,” said Refinitiv analyst Ehsan Ul Haq.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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