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Indian Oil Purchases from Russia at Highest Price in One Year in Nov

OIL

India’s crude oil imports from Russia in November were the costliest in one year at $85.90/bbl, up from $84.46/bbl in October, government data show, cited by Bloomberg.

  • Indian crude oil imports from Russia fell to 1.48mbpd in December, down from 1.68mbpd in November.
  • India’s oil minister Hardeep Singh Puri said how much oil the country imports from Russia is dependent on prices after reports pointed to payment bottlenecks due to increased sanction efforts by the US.

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