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This Article is From May 02, 2023

India’s Imports of Russian Oil Dwarf Iraq, Saudi Flows

India’s imports of Russian oil exceeded combined flows from Saudi Arabia and Iraq last month for the first time ever.

India’s Imports of Russian Oil Dwarf Iraq, Saudi Flows
Oil advanced after China made further progress toward reopening, OPEC+ kept output steady and sanctions on Russian crude kicked in. Paul Wallace reports on Bloomberg Television.Source: Bloomberg

India's imports of Russian oil exceeded combined flows from Saudi Arabia and Iraq last month for the first time ever, according to data from Vortexa Ltd., as the South Asian nation continued to gorge on the discounted crude. However, overall volumes from Russia are likely to remain steady in May as China competes for the Urals grade, said Serena Huang, an analyst at the shipping analytics company.

More stories like this are available on bloomberg.com

©2023 Bloomberg L.P.

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