India has been receiving Russian oil in larger quantities than from Middle East imports, setting the record for a 19 month-low. While India’s overall oil imports in September fell to a 14-month low of 3.91 million barrels per day (bpd), their Middle East imports specifically decreased to 2.2 million bpd. This is in contrast to their Russian imports surged to an all-time high of 23% from 19%, reaching about 896,000 bpd. These imports are amid sanctions placed on India by the United States. One can interpret this cooperation as a statement by India, that they are not bound to any specific sources for their fuel.
- India’s Russian oil binge sends Middle East imports to 19-month-low