India’s Imports of Russian Oil Set for New Record High

AI Summary

India is on track to import a record volume of Russian crude oil in June, with imports reaching 2.6 million barrels per day amid the Hormuz crisis and U.S. waivers. Russian oil accounted for over half of India's oil imports, marking a significant energy trade development.

India is set to import a record-high volume of Russian crude in June as the Hormuz crisis and the U.S. waivers on Russia’s barrels have pushed the world’s third-largest crude importer to gorge on Moscow’s oil again. India has imported 2.6 million barrels per day (bpd) of Russian crude oil so far in June, according to preliminary vessel-tracking data from commodity analytics firm Kpler cited by Indian media. So far this month, Russian crude has accounted for as much as 53.5% of all Indian oil imports, per the data.   …