Share of Russian crude in India’s imports increased to nearly 40% in April

Russia increased its share of Indian crude imports from 30% in March to nearly 40% in April, closing at its all-time peak of 42% last July, as higher global oil prices forced Indian refiners to seek concessional Russian oil, inspired to increase barrel intake to reduce their average crude oil purchasing cost.

Indian refiners imported 1.78 million barrels per day (mb/d) of crude oil from Russia in April, up 19% from March, according to energy cargo tracker Vortexa.

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