Russia Remains Largest Oil Supplier To India
Date
10/23/2024 3:11:42 PM
(MENAFN- AzerNews)
By Alimat Aliyeva
Russia retains its status as a leading supplier of oil to India.
In April-September 2024, oil imports from Russia to India increased
by 2.5 percent compared to last year, Azernews
reports.
India remains the largest export destination for offshore oil
from Russia and buys Russian oil at discounted prices.
Currently, Russia's share in the total volume of oil imported by
India is 39 percent. Iraq is in second place with 18 percent, and
Saudi Arabia is in third with 13 percent. The share of the United
Arab Emirates rose to 8 percent from 5 percent in the previous
year, and the share of the United States increased to 5.5 percent
in April-September. The total volume of oil imports to India has
increased by 4 percent this year. In September, the volume of oil
supplies from Russia increased by 6.4 percent compared to August
and reached 1.88 million barrels per day.
India is the third largest consumer of oil in the world with
over 85 percent dependence on imports.
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