India surpasses China to become Russia's top oil buyer in July

August 22, 2024-Russian crude made up a record 44% of India's overall imports last month, rising to a record 2.07mln bpd, 4.2% higher than in June and 12% more than a year ago
India overtook China as the world's biggest importer of Russian oil in July as Chinese refiners bought less because of lower profit margins from producing fuels, a comparison of import data showed.

Russian crude made up a record 44% of India's overall imports last month, rising to a record 2.07 million barrels per day (bpd), 4.2% higher than in June and 12% more than a year ago, data on Indian shipments from trade and industry sources showed.

That surpassed China's July oil imports from Russia of 1.76 million bpd via pipelines and shipments, based on Chinese customs data.

An Income Strategy for Volatile Markets-CSOP HSCEI Covered Call Active ETF (2802.HK) Debuts on HKEX Tomorrow

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China's exports grow 5.9% in November, while U.S. shipments drop 29%

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