Delhi/Hyderabad, june 21 (Maxim News): Despite the restrictions on oil imports from Russia, India is not hesitating at all. It has been increasing its oil imports from Russia. India’s oil imports from Russia have increased by 39 percent this month. According to a report by maritime and commodity intelligence firm Kepler.. India has been buying the most oil from Russia and the UAE in recent times. From June 1 to 19, it bought an average of 2.66 million barrels of oil per day from Russia.
In May, it bought only 1.91 million barrels per day on average. This means that it is buying about 39 percent more oil this month. Currently, Russia is the largest supplier of oil to India. At the same time, oil imports from the UAE are also high. However, there is a slight decrease in supply compared to the previous month. While in May, it imported an average of 644,000 barrels of oil per day from the UAE.. this month, it is importing 636,000 barrels of oil. India has been buying more oil from Venezuela in recent times. Venezuela has become the fourth country that supplies us the most oil. On average, 209,000 barrels of oil are imported from this country per day. Saudi Arabia is also importing 384,000 barrels of oil per day. On the other hand, India has significantly reduced oil imports from the US.
Last month, the average daily oil import from the US was 252,000 barrels. This month, it is importing only 91,000 barrels. The reason for the high imports is the low price of Russian oil. India is the third largest importer of oil in the world. It has to import most of its oil, including crude oil, LNG, and LPG, from abroad. India has faced difficulties in importing oil in recent times. This situation arose after Iran and the US closed the Strait of Hormuz. Now that the war is over and Hormuz is open, there is a possibility that India will face oil shortage. (Maxim News)
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