Russia ranked third in oil exports to India in August

MOSCOW, 15 Sep — PRIME. Saudi Arabia in August, after a three-month break, again took second place among oil suppliers to India, only slightly ahead of Russia. The first line of the rating was still occupied by Iraq. This was reported by Reuters, citing sources in the oil industry and trade.

India is the world’s third largest importer and consumer of oil. In August, oil imports from Saudi Arabia to India totaled 863,950 barrels per day, up 4.8% from the previous month. Deliveries from Russia fell 2.4% to 855,950 barrels per day.

Despite an increase in supplies from Saudi Arabia, the share of OPEC oil in India’s imports fell to 59.8%, the lowest level in at least 16 years.

India has become the second largest buyer of Russian oil after China, while many countries are reducing imports of Russian energy products due to the situation in Ukraine. However, Russian oil deliveries to India are declining after hitting a record high in June, as the discount offered by Moscow has narrowed and refineries have increased urgent deliveries.

The total volume of oil imports in India in August fell to a 5-month low and amounted to 4.45 million barrels per day, which is 4.1% lower than in July. The reason for this was the repair and maintenance of some refineries.