New Delhi: In August, when monsoon rains lowered demand, India imported the least amount of cheap Russian oil in seven months, according to industry data.
Oil imports from Russia were lowered for a third straight month by the world's third largest user in August. According to data from energy cargo tracker Vortexa, it imported 1.46 million barrels per day from Russia in August, down from 1.91 million barrels in July.
The amount of crude oil that Indian refineries import from Iraq has decreased to 866,000 bpd from 891,000 bpd. Data indicated that imports from Saudi Arabia increased to 820,000 bpd in August, up from 484,000 bpd in July, replacing some of the lost volumes.—Inputs from Agencies