India’s Russian crude oil trade rebound in October after previous quarter dip; imports rise to 1.8 million bpd: Report

In a notable shift, India’s crude oil imports from Russia have surged in the first half of October, reversing a three-month decline observed from July to September. This resurgence is attributed to Indian refineries operating at full capacity to meet the heightened demand during the festive season, as indicated by ship tracking data.

Russian oil imports had previously decreased from over 2 million barrels per day (bpd) in June to 1.6 million bpd in September. However, early October data from tanker tracking suggests a rebound, with shipments of Urals and other Russian grades to India gaining momentum.