The surge in India’s takings has been the most remarkable: from a then-record 103,000 b/d for 2021 to 683,000 b/d for 2022 (MEES, 3 February 2023) and a further 137% increase to 1.62mn b/d for 2023. China’s imports from Russia leapt by 23% to a record 2.13mn b/d (see chart 1).
Russia Ships Record Crude To India & China
Russian crude exports held up remarkably in the face of western sanctions for 2023 with top two customers China and India both seeing volumes leap to new record highs.
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Charts
1: Imports Of Russian Crude: India And China Took Record Volumes For 2023 (‘000 b/d)
2: India And China’s Buying Has Eased From Record Levels In Recent Months But Number Three Customer Turkey Has Seen Takings Surge (‘000 b/d)
3: 2023’s Record Russia-India Crude Shipments: Over 80% Came From ‘West Of Suez’ Ports
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