Report: India’s imports of oil from Russia rise 15% in May

NEW DELHI, Jun 5 (PRIME) -- India's imports of Russian oil grew 15% on the month to 1.96 million barrels per day in May, which exceeded the combined oil supplies of Saudi Arabia, Iraq, the United Arab Emirates (UAE), and the U.S., the Economic Times reported on Monday citing data of fuel cargo tracker Vortexa.

Iraq supplied 830,000 barrels per day to India in the period and the UAE 203,000 barrels per day. "The rise in Russian share came at the cost of traditional suppliers in the Middle East. Shipments from Saudi Arabia slipped to 560,000 tonnes – the lowest since February 2021," the newspaper reported.

The average cost of oil from Russia including freight amounted to U.S. $68.21 per barrel in April, while from Saudi Arabia to $86.96, and from Iraq to $77.77. The May prices were not disclosed.

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