India's Russian Oil Imports Stabilize at 1.8 Million Barrels per Day

India's imports of Russian crude oil have remained relatively steady at around 1.8 million barrels per day in September, after slipping from 2.82 million bpd in July to 2.08 million bpd in August.

The drop in Russian imports was partly due to refinery maintenance and increased Chinese buying, which reduced Russian flows, while Middle Eastern suppliers stepped in to fill the gap.

Iraq supplied around 505,000 bpd of crude this month, up from 163,000 in August, while Saudi volumes rose to 576,000 bpd in September from 347,000 bpd last month. The UAE also supplied 522,000 bpd, largely unchanged from 546,000 bpd in August.

Nikhil Dubey, Lead Analyst for Refining at Kpler, stated that the decline in Russian imports was linked to lower Russian exports following disruptions to export infrastructure, and that Middle Eastern crude has become a more important source for Indian refiners.