India's imports of Russian oil reach a new high

In June, India acquired a record amount of crude from Russia. Daily volumes increased to 2.2 million barrels a day in June, increasing for the 10th consecutive month, according to Viktor Katona, the head of crude analysis at Kpler.

Moscow supplied 46% of India's oil imports in May, a startling increase from the 2% it supplied before the invasion of Ukraine as per Kpler

Following the invasion of Ukraine, India became a significant user of Russian oil, but due to infrastructural problems and the need to maintain good relations with other suppliers, the country's purchasing may have reached its limit.

Kpler stated that because of a decline in Russian production, imports may fall next month.

According to Kpler, Reliance Industries Ltd. was the second-largest purchaser of Russian crude over the previous two months, followed by state-owned Indian Oil.

In April, the average price of Russian crude shipped to Indian ports was $68.21 per barrel, compared to $86.96 for Saudi oil.