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India Pulls in Less Urals in July

OIL

India shipped in 877,400 bpd of crude from Russia in July, a decline of about 7.3% from June, with Russia continuing as its second biggest oil supplier after Iraq according to Refinitiv.

  • Overall, India, the world's third biggest oil importer and consumer, shipped in 3.2% less oil in July at 4.63 million bpd than June.
  • India's crude oil imports from Russia in July fell for the first time since March – those from Saudi rebounded.
  • India's oil imports from Saudi Arabia rose by 25.6% to 824,700 bpd in July, the highest in three months.
  • The share of Middle East oil in India's overall imports declined marginally in July as the nation cut purchases from Iraq by 9.3% from June to below 1 million bpd mark for the first time in 10 months.
Energy BulletsCommodities
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