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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
OIL
The share of OPEC crude oil in India’s total crude imports fell to 64.5% last year as discounted Russian crudes replaced OPEC-originated imports, sources told Reuters.
- OPEC exports, mainly from the Middle East and Africa, declined to a share of 64.5% of India’s crude oil imports basket, but Iraq and Saudi Arabia remained India’s top two suppliers.
- Russia became the third-largest oil supplier to India in 2022, making up about 15% of total purchases, compared to 1% in 2021.
- "India's oil imports from Russia would continue to rise this year as well mainly because of discounts if there are no further stringent actions by the Western countries targeting Russian oil," said an official at an Indian refiner.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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