India Surpasses China as Russia's Top Oil Buyer in July

• India became the largest importer of Russian oil in July, surpassing China due to lower profit margins in Chinese fuel production.
• Indian shipments of Russian crude increased by 12% year-on-year, reaching a record high of 2.07 million barrels per day (bpd).
• India's July oil imports from Russia exceeded China's 1.76 million bpd, including both pipeline and shipment deliveries.
• Indian refiners are capitalizing on discounted Russian oil following Western sanctions against Moscow.
• Iraq, Saudi Arabia, and the UAE followed as India's top oil suppliers, with Middle Eastern imports rising by 4% in July.

Source: Times of India