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Russia remains largest oil supplier to India with 39% share — The Economic Times

Russia is the largest crude supplier to India with a 39% share, followed by Iraq (18%), and Saudi Arabia (13%), according to analysts

NEW DELHI, October 23. /TASS/. Russia maintains the status of the leading supplier of oil to India, The Economic Times newspaper wrote citing figures provided by energy cargo tracker Vortexa.

"India's imports of Russian crude during April-September this year were 2.5% higher compared to last year. India continues to be Russia's largest seaborne crude export destination, with Russia's discounted crude prices being the key driver of refiners' robust import appetite," Serena Huang, an analyst at Vorexa, was quoted as saying by the publication.

Russia is the largest crude supplier to India with a 39% share, followed by Iraq (18%), and Saudi Arabia (13%), according to analysts. The UAE's share increased to 8% in April-September compared to 5% in the previous year, while the US’ share rose to 5.5%. Total oil imports to India have grown by 4% this year.

Earlier reports said that the volumes of oil supplies from Russia to India in September went up by 6.4% month-on-month to 1.88 mln barrels per day.

India is the world’s third-biggest oil consumer with the level of the country’s reliance on oil imports exceeding 85%. Indian oil refineries purchase crude from more than 30 countries.