Russian Crude Oil: Russian oil s share in India s crude imports dropped to 25% in Jan from 31% in Dec due to narrower price discounts, US sanctions impacting shippers, and increased freight costs due to Red Sea attacks. India imported 1.2 mbd of Russian crude in Jan, the same as China s import. Indian state refiners reduced imports by 21% while private sector refiners increased imports by 10%.
India s oil imports from Russia in December declined between 16 per cent and 22 per cent, according to Reuters calculation on the basis of data from flow tracking agencies Vortexa, Kpler and LSEG.