India continues scaling up Russian oil purchases in early 2023
Russia supplied 1.39 mln barrels daily to India in January 2023
India continued increasing purchases of Russian oil in early 2023, the Roscongress Foundation said in its research.
“Russian companies of the energy sector can win seriously owing to the expansion of their presence in the Indian market. This process has already started.
According to Kpler agency, Russia became the largest oil supplier to India by the end of 2022, driving back Iraq and Saudi Arabia. In December 2022, Indian companies purchased 33 times more oil than in December 2021. The upward trend was kept in January 2023,” the research indicates.
Russia supplied 1.39 mln barrels daily to India in January 2023, according to the document. The Federation of Indian Petroleum Industry (FIPI) estimated that the country’s demand would reach 5.41 mln barrels daily in this year and would continue growing as new refineries come on stream.
