According to data from the commerce ministry, Russia exported crude oil worth $3.08 billion in November to India, making it the second largest exporter to India after Saudi Arabia.
Meanwhile, the US imported oil products worth $588 million in November, raising imports to the highest levels this fiscal.
Experts said that the imports increased amid the high demand for crude ahead of the US holiday season.
The US has imported $3.62 billion worth of petroleum products in the eight months to 30 November, a 23% increase from the previous year and the highest in the past five years.
Europe's November imports of petroleum products from India also showed significant changes, with the UK, Spain and Romania significantly reducing imports from India, while Portugal, Belgium, and Italy increased imports by 1,600, 535, and 17 times, respectively. The Netherlands, a hub for oil storage, imported 45% more petroleum products compared to October.
Esta historia es de la edición January 11, 2023 de Mint Mumbai.
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