India’s imports of crude oil from Russia touched a new high of 1.64 million barrels per day in March and is now double of the purchases from Iraq — the nation’s traditional top oil supplier. But the purchases appear to have plateaued as growth has slowed.
Russia continued to be the single largest supplier of crude oil, which is converted into petrol and diesel at refineries, for a sixth straight month by supplying more than one-third of all oil India imported, according to energy cargo tracker Vortexa.
Refiners continue to snap up plentiful Russian cargo available at a discount to other grades.
