Business Blog: India’s oil imports from Russia plunge to lowest in seven months

Thursday, August 31, 2023

India’s oil imports from Russia plunge to lowest in seven months

India's imports of cheap Russian oil declined for the third consecutive month in August due to reduced demand caused by monsoon rains and scheduled maintenance works. Indian refiners also cut shipments from Iraq by 10% in August. However, imports from Saudi Arabia saw a significant surge, rising 63% on month.

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