RUSSIA REMAINS LARGEST OIL SUPPLIER TO INDIA WITH 39% SHARE

Russia maintains its status as India's top oil supplier, The Economic Times reported, citing data from analyst firm Vortexa.

“Russian oil imports to India in April-September this year were 2.5 percent higher than last year. India continues to be the top destination for Russia's seaborne oil exports, and discounted prices for Russian oil are a key factor in refiners' strong import appetite,” the publication quoted Vortexa analyst Serena Huang as saying.

Now the share of the Russian Federation in the total volume of oil imported by India is, according to analysts, 39%. In second place is Iraq with 18%, in third place is Saudi Arabia with 13%. The share of the United Arab Emirates increased to 8% in April-September from 5% a year earlier, while the share of the United States increased to 5.5%. This year, India's total oil imports increased by 4%.

Earlier it was reported that the volume of oil supplied by the Russian Federation to India in September increased by 6.4% compared to August and reached 1.88 million barrels per day.

India is the world's third largest consumer of oil, with an import dependency rate of over 85%. Indian refiners purchase oil from more than three dozen countries.