finance
India to import record volume of Russian crude in June
India has imported 2.6 million barrels per day of Russian crude so far this month. Kpler estimates full-month imports will reach 2.35 million barrels per day, exceeding the prior record of 2.2 million barrels per day set in May 2023.
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India is on pace to import a record volume of Russian crude oil in June. Preliminary vessel-tracking data from Kpler show the country has taken in 2.6 million barrels per day so far this month. Russian barrels accounted for as much as 53.5 percent of India's total oil imports during the period.
Kpler projects full-month imports will reach 2.35 million barrels per day, surpassing the previous monthly record of 2.2 million barrels per day from May 2023.
Russian crude after 2022 sanctions by the U.S. and EU on Moscow. The current volume increase follows the expiration last week of a U.S. waiver on Russian oil sales and coincides with disruptions in the Strait of Hormuz.
manager Sumit Ritolia said imports have remained strong due to continued discounts and steady refinery demand. He added that Russian crude will likely remain a significant supply source for India even if the waiver is not extended.
Transparency
3 sources · across multiple outlets
CorroborationModerate · 3 sources
