In January, India experienced a surge in its crude oil imports, reaching a monthly record. This increase was primarily due to the Red Sea shipping crisis, which caused delays in the arrival of cargoes from the Americas in December. Data sourced from trade outlets revealed that India, as the world’s third-largest oil importer and consumer, […]
According to a government official, India’s procurement of Russian oil is anticipated to become costlier as shipments from Moscow are opting for a longer route via the Cape of Good Hope to circumvent attacks on commercial vessels along the Red Sea route. The redirection of shipments through the Cape of Good Hope, located at the […]
India’s crude oil imports from Iraq reached a 21-month high in January, driven by disruptions in US oil supplies due to increased freight rates amid the Red Sea crisis. Preliminary data from commodity market analytics firm Kpler reveals that Indian refiners did not receive any US crude in January, marking a departure from the average […]