As other shippers avoid the route, Russia-India crude trade is increasingly dominating Suez Canal oil flows. Russian Urals crude in turn continues to dominate Indian crude imports at the expense of Iraq and Saudi Arabia, whilst China remains the dominant market for crude exports from Russia’s Far East.
For January, the most recent official stats, India imported 1.825mn b/d from Russia, the fifth highest figure on record, and almost 800,000 b/d ahead of number two supplier Iraq on 1.064mn b/d with Saudi Arabia a distant third on 574,000 b/d. (CONTINUED - 963 WORDS)
