India’s appetite for cheap Russian oil took a breather in August as monsoon rains dampened demand and refiners scheduled routine maintenance works.
The world’s third largest oil consumer reduced imports from Moscow for the third consecutive month in August to 1.57 million barrels a day, down 24% on the month and bringing them to their lowest since January, according to data intelligence firm Kpler.
Indian refiners also cut shipments from Iraq, another top supplier, by 10% on the month in August to 848,000 barrels a day. Some of those volumes were replaced by a sharp surge in imports from Saudi Arabia, which rose 63% on month to 852,000 barrels a day, the data showed.
