Russia exported 80% of its crude oil to India, China in May
Russia is one of the leading exporters of natural gas, crude oil and coal in the global market. Ever since the Russia-Ukraine war, Russia has offered huge discounts on crude oil. This comes as an opportunity for many Asian nations. India and China are among them. As per the import export data reports globally, India and China accounted for over 80% of Russia's total crude oil exports in May 2023. That resulted in less imports of oil from African and Middle eastern countries. According to the Russia import data reports, in May, Russia oil imports were estimated around 110 million barrels. In May 2023, Russia did over 62 million barrels of crude oil shipments to India. Whereas around 6 million tonnes of crude oil was shipped to China. Our Russia export data suggests that India imported a record 66 million barrels of crude oil from Russia. While It was 49 million barrels crude oil was shipped to China. Whereas, India and China's crude oil imports from Dubai and Oman fell by 4...