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India’s Imports Of Russian Crude Rise To Record Level In Jan

OIL

India's Russian oil imports climbed to a record 1.4mbpd in January, up by 9.2% from December, marking Russia again as the top monthly oil seller to India, data from trade sources showed.

  • Last month Russian oil accounted for about 27% of the 5mbpd of crude imported by India, followed by Iraq and Saudi Arabia, the data showed.
  • India's oil imports typically rise in December and January as state-run refiners avoid maintenance shutdowns in the first quarter to meet their annual production targets fixed by the government.
  • Last month India's imports of Russian Sokol crude oil were the highest so far at 100,900 bpd, as output from the Sakhalin 1 field resumed under a new Russian operator, the data showed.
  • India’s crude oil imports from Iraq last month rose to a seven-month high of 983kbpd, up by 11% on the month.
Energy BulletsCommodities
Energy BulletsCommodities

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