India surpasses China to become biggest importer of Russian oil

Daily Current Affairs / India surpasses China to become biggest importer of Russian oil

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Category : Business and economics Published on: August 24 2024

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India became the largest importer of Russian oil in beating China which reduced its purchases due to lower profit margins in fuel production.
Data on Indian shipments from trade and industry sources revealed that Russian crude imports increased by 12% year-on-year to 44% of India's total imports last month (July 2024), reaching a record high of 2.07 million barrels per day (bpd).