India’s oil imports hit record high in Jan on Red Sea delays, shows data
India’s crude oil imports rose to a monthly record in January after the Red Sea shipping crisis delayed the December arrival of cargoes from the Americas, data from trade sources showed.
The world’s third largest oil importer and consumer also received in January its first cargo of Venezuelan oil after a gap of more than three years, as the U.S. eased sanctions on the South American producer, the data showed.
India’s oil imports hit 5.24 million barrels per day (bpd) in January, up 17% from December and 3.5% higher than in the corresponding month a year earlier, according to the data.
