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India's Crude Shipments from Russia Fall but Saudi Imports Rise in Oct


India’s imports of Russian crude oil fell in October while imports from Iraq also fell but Saudi Arabia increased according to Kpler data.

  • Total crude supplies to India increased 6% in October to 4.4mbpd with the end of maintenance at several facilities.
  • Shipments from Saudi Arabia almost doubled with monthly volumes to state refiners adjusted to meet annual purchase obligations under term deals.
  • Russia remains the biggest supplier of seaborne crude but shipments fell 11% on the month to 1.58mbpd in October. Reliance Industries Ltd. bought the least crude since September 2022 because of scheduled maintenance at several units of its Jamnagar plant according to Bloomberg. Imports from Russia set to rise to about 1.8mbpd in November according to Viktor Katona at Kpler.

Source: Bloomberg

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