Imports of crude oil reach a 4-year high in March

According to the latest data, crude oil imports into India hit 5.2 million barrels per day in March, which is the highest level since early 2020. In March 2021, imports rose by 4.5% from 4.9 million barrels per day, 11% more than the amounts imported in February. The data also indicates that India’s crude oil imports from Russia increased to 1.8 million barrels per day in March.

In March, the amount of Urals oil exported to India from Russia increased to approximately 1.5 million barrels per day, which is higher than any other Russian oil grade. This is an increase from 1.1 million barrels per day in February. Additionally, Iraqi imports of oil increased significantly from the previous month, rising about 66% to 1.3 million barrels per day.

Oil imports from the United Arab Emirates (UAE) rose by 39% to 435,283 barrels per day in March, the highest level since June 2022, while imports from Saudi Arabia declined by 18% to 701,514 barrels per day from February.

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