Russian oil exports to India hit 9 month high

The volume of Russian oil exports to India in April reached its highest level in the past nine months, according to the Indian Express newspaper, which cited analysts on Friday, 3 May. This figure reached 1.96 million barrels per day, which is 19% higher than the figures for March, as reported by RT.

Victor Katon, a senior analyst at the Kpler agency for oil markets, noted that Russian producers exported surpluses due to their inability to process as much oil domestically. India therefore had an opportunity to purchase more energy resources, according to the website aif.ru.

In April, India imported 4.86 million barrels of oil per day, with Russia accounting for 40% of this volume, or 1.54 million barrels of Urals oil. This supplier was selected due to the price difference compared to other West Asian companies.
The publication notes that anti-Russian sanctions had a minor and short-term impact on oil imports from Russia and India.
On 11 April, data from analysts at the Organisation of the Petroleum Exporting Countries (OPEC) revealed that Russia had become the primary supplier of crude oil to India and China as of February 2024, as reported by NSN.

On 7 April, data from the Federal Customs Service (FCS) indicated that Russia’s main trading partners had shifted from Western countries to China, India and Turkey.