India’s Crude Imports Sink Despite Record Russian Oil Buying
India’s total crude oil imports declined by 13% in March from February as the Iran war crippled Middle Eastern supply that couldn’t be offset by record-high Russian oil imports. India, the world’s third-biggest crude oil buyer, imported a total of 4.5 million barrels per day (bpd) of crude in March, down by 13% from pre-war levels, according to shipping and industry sources' data cited by Reuters. While India’s imports of crude from the Middle East fell materially, imports from Russia surged and almost…