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Indian Crude Buying From Russia Slowed in August

OIL

Indian crude oil imports from Russia declined for the third consecutive month in August to 1.57mbpd, down by 24% month on month because of lower demand amid monsoon rains and scheduled refinery maintenance, Kpler data show.

  • Crude imports from Russia fell to the lowest level since January this month.
  • August crude oil imports from Iraq also fell by 10% on the month to 848kbpd.
  • Some of those volumes were replaced by a sharp surge in imports from Saudi Arabia, which rose by 63% on month to 852kbpd.

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