Russia replaces Iraq as top oil supplier to India in November

Russia has for the first time emerged as top oil supplier to India replacing Iraq as refiners last month snapped up oil from Moscow fearing a price cap from Dec. 5 could hit supplies and choke payment avenues, data obtained from trade sources showed.

India’s oil imports from Russia rose for the fifth straight month, totaling 908,000 barrels per day (bpd) in November, up 4 per cent from October, the data showed.