India took even more Russian oil last month, crowding out Saudi Arabia
NEW DELHI: India’s imports of cheap Russian oil set another record in May, with the OPEC+ producer wresting more market share from Saudi Arabia.
The South Asian nation took 1.96 million barrels a day from Russia last month, 15% more than the previous high in April, according to data from Vortexa Ltd. Shipments from Saudi Arabia slipped to the lowest level since February 2021, figures from the shipping analytics company show.
The average cost of Russian crude including freight costs landing on Indian shores in April was $68.21 a barrel, according to data from the ministry of commerce and industry.
