India’s oil imports from Riyadh in September were at around 556,185 bpd, down nearly a third from August volumes. Between January 2022 and August 2023, the import volumes averaged at over 750,000 bpd.
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The country is a net exporter of petroleum products thanks to its refining capacity of 250 million tonnes per annum, or around 5 million bpd, which is higher than its domestic demand.