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May 08,2023

Crude oil imports fell 46% from OPEC in India

India's crude oil imports fell 46% on April-23 from 72% on April-22 due to discounted Russian Shipments. Refiners have turned to Russian oil, which now accounts for more than the combined shipments from Iraq and Saudi Arabia. The share of Russian oil hiked by 1% before the Ukraine conflict, and in April-23, it accounted 36% of Indian oil imports.

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