In June the share went up by around 14 percentage points from a January low.
Russian crude oil supplies to India climbed to around 2.1 million barrels per day in June compared to around 1.99 million barrels per day in May, according to shiptracking data.
India last imported over 2 million barrels per day in July 2023, with the share of Russian oil in India's import at 44 per cent.
India last imported over 2 million barrels per day in July 2023, with the share of Russian oil in India's import at 44 per cent.
The higher purchase from Russia has come at the cost of West Asia, according to industry sources and the shipping data.
Russian oil constituted 45.4 per cent of India's daily purchase of 4.63 million barrels in June, as against 40.7 per cent in May and 31.7 per cent in January, when Washington unleashed more sanctions.
Russia had a record 45.8 per cent share of the Indian oil import in May last year.
The share of West Asia, led by Iraq and Saudi Arabia, in India's crude oil basket was just 36 per cent last month as against 39 per cent in May and nearly 50 per cent in January.
This story is from the July 02, 2024 edition of Business Standard.
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This story is from the July 02, 2024 edition of Business Standard.
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