India's imports from OPEC at all-time low as Russian oil buy peaks

India's imports of crude oil from the Organisation of the Petroleum Exporting Countries (OPEC) fell to a record low of 46% in April as it increased purchases of cheaper Russian oil. Russia supplied over a third of the oil that India imported, with imports from the country rising from less than 1% of India's total to 36% in April. OPEC's position in the Indian market has been gradually falling since Russia began selling cheaper oil to India following the invasion of Ukraine.

from Economy-News-Economic Times https://ift.tt/Kc2l7ru
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