The third-largest oil importer and consumer in the world, India, imported 863,950 barrels of petroleum per day (bpd) from Saudi Arabia, up 4.8% from the previous month, while purchases from Russia declined to 855,950 bpd, according to the statistics.
Despite Saudi Arabia’s increase, India’s proportion of OPEX oil fell to 59. 8%, the lowest level in at least 16 years, as a result of a reduction in imports from Africa.
Due to maintenance at several refineries, India’s total crude imports fell to a five-month low in August of 4. 45 million bpd, down 4.1% from July, according to the statistics.
Increased purchases of Saudi and Emirati oil raised Middle East’s share in India to 59% in August; from 54% in July while that of CIS nations rose to about a quarter from 23%, the data showed.