India’s Russian oil imports surge to a record in Jan

NEW DELHI: India’s Russian oil imports climbed to a record 1.4 million barrels per day (bpd) in January, up 9.2% from December, with Moscow still the top monthly oil seller to New Delhi, followed by Iraq and Saudi Arabia, data from trade sources showed.

Last month Russian oil accounted for about 27% of the 5 million bpd of crude imported by India, the world’s third-biggest oil importer and consumer, the data showed.

India’s oil imports typically rise in December and January as state-run refiners avoid maintenance shutdowns in the first quarter to meet their annual production targets fixed by the government.