Russia became the top oil supplier to India and China as of the end of May 2023 for the fourth month in a row, the Organization of Petroleum Exporting Countries (OPEC) said in its July report.
According to OPEC, Russia provided for almost 19% of total Chinese oil imports in May. Saudi Arabia accounted for 14% of supplies and the share of Malaysia was close to 11%. China’s oil imports in total gained 17% monthly in May and totaled 12.1 mln barrels daily.
Russia supported 46% of total Indian oil imports in May 2023, according to Kpler analytical agency cited by OPEC. Russia is taking the lead in oil supplies to India for eleven months in succession. The share of Iraq was 11% and Saudi Arabia accounted for 11% of Indian imports. Total oil imports of India lost 3% month on month in May and stood at 4.7 mln barrels a day.