News Formal

Soaring Russian Oil Imports Drag OPEC's Market Share in India to a Record Low

  • 📰 OilandEnergy
  • ⏱ Reading Time:
  • 23 sec. here
  • 9 min. at publisher
  • 📊 Quality Score:
  • News: 37%
  • Publisher: 68%

Russia Notícia

Crude Oil,Imports,OPEC

Russia was India's largest supplier for a second consecutive fiscal year as OPEC lost market share in the country.

Russia was India’s single largest oil supplier for a second consecutive fiscal year, as surging imports of Russian crude dragged down the share of OPEC and Middle East supply to India to a record low, Reuters reported on Friday, citing data from tanker-tracking data obtained from industry sources.

For the first time ever, India – which depends on imports for around 87% of its oil consumption – imported roughly equal volumes of OPEC and non-OPEC crude, thanks to the 57% annual surge in imports from non-OPEC producer Russia. Higher prices of Saudi crude and lower Kuwaiti supply as Kuwait limited exports of some grades to direct them to a new refinery also contributed to the low share of the OPEC and Middle Eastern crude of India’s imports.

Resumimos esta notícia para que você possa lê-la rapidamente. Se você se interessou pela notícia, pode ler o texto completo aqui. Consulte Mais informação:

 /  🏆 34. in BR
 

Obrigado pelo seu comentário. Seu comentário será publicado após ser revisado.

Brasil Últimas Notícias, Brasil Manchetes

Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.

OPEC Oil Industry Needs $11.1 Trillion in Upstream Investment by 2045According to OPEC Secretary General Haitham Al Ghais, the oil industry will need $11.1 trillion in upstream investment by 2045.
Fonte: OilandEnergy - 🏆 34. / 68 Consulte Mais informação »