{"id":522973,"date":"2022-09-19T10:50:32","date_gmt":"2022-09-19T05:20:32","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=522973"},"modified":"2022-09-19T10:50:32","modified_gmt":"2022-09-19T05:20:32","slug":"bargain-hunt-in-oil-market-helped-india-save-money-in-2020-too","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/bargain-hunt-in-oil-market-helped-india-save-money-in-2020-too\/","title":{"rendered":"Bargain hunt in oil market helped India save money in 2020 too"},"content":{"rendered":"<p>In July, Russia became India\u2019s second-largest oil supplier, relegating Saudi Arabia to the third spot. Although Riyadh won back its position in August, Russia remains the third-largest oil supplier for India, Reuters reported, quoting trade data.<\/p>\n<p>Data sourced from the commerce department showed that during April-July, India\u2019s mineral oil imports from Russia soared over eight times to $11. 2 billion, compared with $1. 3 billion in the corresponding period last year. Since March, when India stepped up imports from Russia, imports have topped $12 billion, against just a shade over $1. 5 billion last year. Around $7 billon of these imports took place in June and July.<\/p>\n<p>To put things in perspective, refiners buy oil and not the government. But cheaper oil has a positive impact on macroeconomic parameters of the economy.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In July, Russia became India\u2019s second-largest oil supplier, relegating Saudi Arabia to the third spot. Although Riyadh won back its position in August, Russia remains the third-largest oil supplier for India, Reuters reported, quoting trade data. Data sourced from the commerce department showed that during April-July, India\u2019s mineral oil imports from Russia soared over eight times to $11. 2 billion, compared with $1. 3 billion in the corresponding period last year. Since March, when India stepped up imports from Russia, imports have topped $12 billion, against just a shade over $1. 5 billion last year. Around $7 billon of these [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,219,137],"tags":[],"class_list":["post-522973","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-times-of-india","category-the-times-of-india"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/522973","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=522973"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/522973\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=522973"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=522973"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=522973"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}