India ups crude oil imports from the US as Russian shipments stagnate

• Posted in OilGas
• on July 10, 2023
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Triggered by OPEC+ announcement on cutting crude oil output, India is looking to diversify its crude sources, says a study

As per the PPAC, India’s cumulative crude oil imports during April and May this fiscal year stood at almost 40 mt, of which 6.9 per cent was from North America.

Even as crude oil imports from Russia exhibit signs of stagnation, India has gradually increased its shipments of the critical commodity from the US, which seems to be trying to claw back its lost share.

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