Russia retains its status as the leading oil supplier to India. This was reported by The Economic Times newspaper, citing data from the analytical company Vortexa. “Russian oil imports to India in April-September this year were 2.5% higher than last year. India continues to be the largest destination for seaborne oil exports from Russia, and discount prices for Russian oil are a key factor in the steady import appetite of oil refineries,” the publication quotes Vortexa analyst Serena Huang as saying. Currently, the Russian Federation’s share in the total volume of oil imported by India is, according to analysts, 39%. In second place is Iraq with 18%, in third is Saudi Arabia with 13%. The UAE's share increased to 8% in April-September from 5% in the previous year, while the US share increased to 5.5%. Total oil imports to India this year increased by 4%. It was previously reported that the volumes of oil supplied from the Russian Federation to India in September increased by 6.4% compared to August and reached 1.88 million barrels per day.
India is the world's third largest oil consumer with a high import dependence rate of over 85%. Indian refineries buy oil from more than three dozen countries.
