 "Russian crude flow to India declines in Aug, Iraq improves market share | Economy & Policy News")
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The share of Iraqi crude increased to around 19 per cent in August from just over 16 per cent in July | Representative Picture
Shipments of Russian oil to India declined by 14 per cent in August from July, after a prolific run of three months of near record purchases by Indian refiners, as savings on the crude declined to record lows after Russian traders refused to offer higher discounts, according to industry sources and ship tracking data.
Iraq, India’s biggest oil supplier prior to Russia’s inroads, improved its market share in India at the expense of Russia on the back of lower rates.
The share of Russian oil in India’s crude basket also dipped by more than three percentage points in August
