India is buying the most crude oil from Russia: 11.9 lakh barrels of oil were imported every day in December; Purchases increased 32 times


Posted on 16th Jan 2023 02:46 pm by rohit kumar

India bought the maximum crude oil from Russia in December 2022. Earlier this happened in October and November also. According to energy cargo tracker Vortexa, India bought an average of 1.19 million barrels of crude oil from Russia every day in December. A year before this, in December 2021, India used to buy only 36,255 barrels of oil per day from Russia. That is, the purchase of oil from Russia increased by about 32 times in a year.

 

Import of 25% crude oil from Russia

India now imports 25% of its oil requirement from Russia. Till March 2022, India used to buy only a very small part of its requirement from Russia. But from April the situation started changing. In October, Russia overtook Iraq and Saudi Arabia in terms of selling oil to India.

 

Increase due to the Russia-Ukraine war

The biggest reason for this increase is the Russia-Ukraine war. Actually, after the war America and European countries imposed sanctions on Russia. After which Russia started giving a discount on crude oil. India also took advantage of the opportunity and started buying large quantities of oil from Russia. Like India, China bought a large amount of crude oil from Russia during this period.

 

Oil purchases not less than the price cap

The G7 countries imposed a price cap on Russian crude oil in early December. Under this, oil could be bought from Russia only for $ 60 / barrel or less. This price cap has not had any impact on India's oil purchases from Russia. In December, for the first time, India bought more than one million barrels of oil per day from Russia. According to industry sources, India is getting Russian oil at a price lower than the price cap.

 

Also Read: Ports: Why is the world's largest ship Ever A lot does not come to India, what is the compulsion to go to the port of Sri Lanka? know

1 Like 0 Dislike
Previous news Next news
Other news

Donald Trump got a death threat, a person wrote- 'Just one bullet is needed'; Police took strict action.

A person had threatened to kill US President Donald Trump. Now Shannon Atkins of Florida has been

Captain Miller Collection Day 3: 'Captain Miller' remains strong at the box office, earns so much in three days

Captain Miller Box Office Collection Day 3: Many films have been released this Makar Sankranti. F

Modi-Shah will also campaign for Shiv Sena in Lok Sabha elections, a list of star campaigners released

Lok Sabha Election 2024. All political parties are continuously releasing the list of their candi

Does the Bangladesh government have a problem with Hindus or ISKCON, what is the matter?

The issue of the arrest of Chinmay Prabhu, associated with ISKCON in Bangladesh, has become so bi

Dhanush-Aishwaryaa: There will be no fight in court between Dhanush and Aishwarya over children, mother will get custody!

South superstar Dhanush and Aishwarya Rajinikanth have filed their divorce petition in the family

Israel: PM Benjamin Netanyahu's tone changed after America's protest! Said- Israel does not want to occupy GazaA

Israeli Prime Minister Benjamin Netanyahu has said that his country does not want to occupy, admi

OPD services halted across the country: Doctors took to the streets in Delhi and NCR, staged massive protests; demanding justice

Doctors across the country are protesting at various places against the rape and murder of a fema

Pahalgam Attack: When Eshanya pleaded with the terrorists, they said- we will see you later, Shubham's sister reveals- the horse owners...

There is anger among the family members after the killing of Kanpur resident Shubham Dwivedi in t

PM Modi: Prime Minister Modi left for a Poland tour, and will also visit Ukraine, said- waiting for talks with Zelensky

Prime Minister Narendra Modi left for a two-day visit to Poland on Wednesday morning. Before leav

US: Will India-America come together to compete with China in space? White House said – cannot give much information

Prime Minister Narendra Modi will be on a US tour from June 21. This tour is being given a lot of

Sign up to write
Sign up now if you have flare of writing..
Login   |   Register
Follow Us
Indyaspeak @ Facebook Indyaspeak @ Twitter Indyaspeak @ Pinterest RSS



Play Free Quiz and Win Cash