India imports 1 million barrels of crude oil per day from Russia

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- Crude oil imports at record levels

AHMEDABAD: India is reaping the benefits of cheap crude oil being offered amid the war against Ukraine. India's crude oil imports from Russia have reached record levels. According to data from energy cargo tracker Vortexa, in the last month i.e. in December 2022, India imported 1 million barrels of crude oil per day from Russia for the first time. Russia has supplied 1.19 million bpd of crude oil to India in December alone.

Last month's figure was up from 909,403 bpd of crude imported from Russia in November and 935,556 bpd in October 2022, according to Vortex's report. The previous record for highest crude oil import from Russia was in June 2022, when India bought 942,694 bpd of crude oil from Russia in June 2022. Russia alone exports 25 percent of all oil imported by India.

India is the third largest oil consuming and importing country in the world. 85 percent of the country's total crude oil requirement is imported. India imported 803,228 bpd from Iraq and 718,357 bpd from Saudi Arabia in December, Vortexa said. After this, India has imported 323,811 bpd of crude oil from United Arab Emirates in December 2022. India imported 322,015 bpd of crude oil from the US, down from 405,525 bpd.

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