From The Economic Times · Reuters · · 50s
India cuts Russian oil imports as Middle East supplies rise
India's Russian oil imports drop 16.5% in August as Middle East oil supplies increase
In brief
India's Russian oil imports drop 16.5% in August as Middle East oil supplies increase India reduced Russian oil imports by 16.5% in August, shifting to Middle East suppliers amid U.S.-Iran tensions Originally reported by The Economic Times.
Russian oil imports fall
India's Russian oil imports dropped 16.5% month-on-month to 2.1 million bpd in August
“Russia remained India's top oil supplier, followed by the UAE and Venezuela”
Middle East supplies rise
UAE's ADNOC increased oil shipments from outside the Strait of Hormuz to India
UAE oil imports drop
India's imports from UAE fell 5.4% to 620,000 bpd in August
Saudi Arabia supplies rise
Saudi Arabia's oil exports to India increased 1.5% to 328,000 bpd in August
U.S. tariff concerns
Indian refiners fear U.S. tariffs on Russian oil could force them to cut imports in September
In short
India reduced Russian oil imports by 16.5% in August, shifting to Middle East suppliers amid U.S.-Iran tensions
