India imported a record 2.24mn b/d of crude oil from Russia in May according to freshly-released official stats. Overall imports of 6.04mn b/d for May were the third highest ever, though average 5M 2024 volumes of 5.38mn b/d are flat year-on-year.

Number two supplier Iraq has more than held its own despite the Russian onslaught with 5M 2024 volumes of 1.15mn b/d up 13% year on year including a near-record 1.39mn b/d for May. But number three Saudi Arabia has seen volumes fall 14% to 728,000 b/d for 5M 2024 with May’s 546,000 b/d a three-year low on a monthly basis. (CONTINUED - 152 WORDS)