-
India’s crude oil imports from Russia jump 18% in April amid decline in total imports
India’s crude oil imports fell around 8 percent in April from the previous month amid the country’s efforts to ramp up domestic production and reduce reliance on imports.
According to energy tracker Vortexa, India’s total crude oil imports stood at 4.5 million barrels per day (bpd) in April, lower than 4.9 million bpd in March.
Despite decline in total oil imports, Russia’s supply of crude oil to India increased by 18 percent in April from last month. Moscow supplied 1.7 million barrels of crude oil to India in April, as against 1.5 million bpd in March. Russian Urals—sour grade—was India’s major import from Moscow.
The rise in oil supply from the Eurasian country comes despite reports of narrowing discounts on Russian oil and tighter US sanctions on the country.
Meanwhile, India’s import of crude oil from other countries including Iraq, Saudi Arabia, UAE and the US fell in the month. Iraq supplied 776,000 bpd of crude oil to India in April, lower than 1.11 million in March while India purchased 681,000 bpd and 103,000 bpd of oil in the month from Saudi Arabia and the US, respectively.
Imports from Venezuela also declined to 66,000 bpd in April compared to 161,000 bpd in the previous month. India started buying crude oil from Venezuela in late 2023 after a gap of three years. India last imported Venezuelan oil in 2020 after which the country came under sanctions from the US
Share This
