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India emerges as top buyer of Venezuelan crude oil in December, January

Indian refiners had stopped oil imports from the Latin American country in 2020 after the United States (US) imposed sanctions on Caracas. With Washington temporarily easing restrictions on Venezuela’s oil sector in October, Indian refiners mainly Reliance Industries (RIL) are back in the market for Venezuelan oil that is likely available at a discounted price. ....

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Asia crude oil imports start 2024 strongly as India leads: Russell

Asia s imports of crude oil saw robust growth in January, reaching an eight-month high of 28.57 million barrels per day (bpd), led by top buyers China and India. China imported 11.31 million bpd, slightly below December s figure but well above the same month in 2023. China s imports from Russia surpassed those from Saudi Arabia, although Saudi Arabia increased its exports to regain market share in China. India, Asia s second-biggest importer, is on track for record imports in January, with arrivals of 5.33 million bpd. ....

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Asia crude oil imports start 2024 strongly as India leads: Russell, ET Auto

Crude Oil Import: Asia s imports of crude oil saw robust growth in January, reaching an eight-month high of 28.57 million barrels per day (bpd), led by top buyers China and India. China imported 11.31 million bpd, slightly below December s figure but well above the same month in 2023. China s imports from Russia surpassed those from Saudi Arabia, although Saudi Arabia increased its exports to regain market share in China. India, Asia s second-biggest importer, is on track for record imports in January, with arrivals of 5.33 million bpd. ....

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High demand, stagnant domestic output pushes up India's reliance on imported crude oil | Business News

Even as the government wants to reduce India’s high dependency on imported crude oil, sluggish domestic oil output in the face of steady growth in domestic demand has led to reliance on imports rising over the years. ....

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India's reliance on imported crude rises to 88.3% in April-June

The reliance on imported crude in the first quarter (Q1) of the current financial year (FY24) was also higher than the previous fiscal’s 87.4 per cent the highest-ever for a full year. ....

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