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Russian Crude Imports into India Recover in September

OIL

Russian oil imports into India rose 15% m/m in September to 1.78mn bpd after reaching a seven-month low in August according to Kpler.

  • India mainly buys Urals grade, which is delivered at a discount of around $4 per barrel to Brent according to Kpler analysts.
  • Imports from Iraq - India’s second-largest supplier - rose 9.4% in September m/m to 934,000 bpd, while cargoes from Saudi Arabia, the third biggest, fell 41% to 491,000 bpd in September as its voluntary cuts bite.

source: Kpler/Bloomberg

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