China surpasses India as world's largest crude oil importer

China surpasses India as world's largest crude oil importer

Daily Current Affairs   /   China surpasses India as world's largest crude oil importer

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Category : Business and economics Published on: April 10 2024

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  • According to the report by energy cargo tracker 'Vortexa', China overtook India to become the leading importer of Russian crude with 1.82 million barrels per day (bpd) in March 2024 through sea routes.
  • In March 2024, total crude oil imports for India rose to 4.89 million bpd, up from 4.41 million bpd the previous month.
  • Apart from China, India also imports crude oil from other countries, such as Iraq and Saudi Arabia.
  • The 'Vortexa' report pointed out that China removed India from importing major Russian crude in March 2024.
  • India has imported crude oil from China and other countries as well as from other regions, which deals with different quality and delivery price.
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