India surpasses China as Russia’s leading oil purchaser – data : Analysis

India has become the largest importer of Russian oil, surpassing China in July. Russian crude accounted for 44% of India’s overall imports last month, reaching a record of 2.07 million barrels per day. Indian refiners have been increasing purchases of discounted Russian oil since February 2022 in response to sanctions on Moscow. China’s oil imports from Russia dropped to 1.76 million barrels per day in July. India’s increasing purchases are shifting the flow of Russian ESPO Blend crude from China to South Asia. Iraq, Saudi Arabia, and the United Arab Emirates remain among the top oil suppliers to India. India’s crude purchases from the Middle East increased by 4% in July.

Analysis:
The article provides specific data on India’s increased imports of Russian oil, surpassing China in July. This information is supported by statistics indicating the record-high imports of Russian crude, which accounted for 44% of India’s overall imports last month. The article also explains that Indian refiners have been buying discounted Russian oil since February in response to sanctions on Moscow, leading to a shift in Russian ESPO Blend crude flow from China to South Asia.

The credibility of the sources providing these statistics is not explicitly mentioned in the article, raising questions about the reliability of the data presented. The potential biases in the article could stem from a focus on certain aspects, such as highlighting India’s increasing imports while downplaying the overall impact on global oil markets or geopolitical factors influencing these trade dynamics.

In the context of the political landscape and prevalence of fake news, this article could be used to shape narratives about India’s strategic energy relationships, potentially influencing public perception about the country’s economic ties and geopolitical positioning. The nuanced understanding of the topic may require additional context on how these oil imports affect India’s energy security, foreign policy, and relations with both Russia and China, emphasizing the complexity of global energy markets and political dynamics.

Source: RT news: India overtakes China to become Russia’s top oil buyer – data