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

Other news

How much compensation will Indigo passengers receive? The airline has made an announcement; find out what relief will be provided to which passengers.

India's largest airline, IndiGo, has announced additional compensation for passengers affected by

Mohammed Shami's troubles increased, the court ordered him to pay Rs 4 lakh per month to Haseen Jahan.

Indian team's fast bowler Mohammed Shami's troubles have increased. The Calcutta High Court has o

Rajasthan: Burnt body of a 14-year-old girl found at a brick kiln in Bhilwara, police suspect rape

Crime is at its peak in Rajasthan. The horrific murder of a 14-year-old girl has shaken Rajasthan

395th birth anniversary of Maratha Empire founder Shivaji Maharaj: PM Modi, Amit Shah and many other leaders paid tribute

Today is the 395th birth anniversary of Chhatrapati Shivaji Maharaj, the founder of the Maratha E

Why did Vikrant Massey decide to retire from acting? Finally, the real reason has come out!

'The Sabarmati Report' actor Vikrant Massey shocked everyone by announcing his retirement from fi

Earthquake In Uttarakhand: Uttarkashi was shaken by two tremors of an earthquake in the morning, with no information about loss of life or property

Earthquake tremors were felt in Uttarkashi district of Uttarakhand on Friday morning. During this

Weather Update Today: Chance of rain in Delhi-UP and a hailstorm in Punjab, snowfall alert in the valley today

There is currently relief from the cold in many states of North India. The Meteorological Departm

Jagdeep Dhankhar: Dhankhar was seen for the first time after his resignation, sitting next to Radhakrishnan, smiling and clapping

Chandrapuram Ponnusamy Radhakrishnan was sworn in as the 15th Vice President of India on Friday.

Samsung Galaxy S24 Series: Before launch, know the specifications of Samsung's upcoming series, it will be equipped with these features

Samsung is in the news these days about its upcoming flagship series. The company is planning to

PM Gifts Putin Bhagavad Gita: PM Modi gifted Putin a copy of the Shrimad Bhagavad Gita written in the Russian language and made an important statement.

Prime Minister Narendra Modi presented Russian President Vladimir Putin with a copy of the Bhagav