Both China and India, the world's biggest and third-biggest oil importers, cut imports from Russia and Saudi Arabia in July after prices rose and as the two oil producers reduced output and crude oil shipments.
Russian oil imports declined 5.7% to 1.85 million bpd and Saudi shipments fell by 26% to 470,000 bpd, the data showed.
India's import of Russian oil may now decline further in August and September, however, as refiners plan maintenance at their plants and as Russian crude prices are above the $60-a-barrel ceiling imposed by the European Union and G7 economies after spot discounts shrank, sources said.
Russia was still the top oil supplier to India in July, though, followed by Iraq and Saudi Arabia.
India's oil importsIndia's oil imports from various regions(This story has been corrected to say April-July, not April-June, in paragraph 11)Reporting by Nidhi Verma; Editing by Florence Tan and Tom HogueOur Standards: The Thomson Reuters Trust Principles.
Persons:
Dado Ruvic, Nidhi Verma, Florence Tan, Tom Hogue
Organizations:
REUTERS, DELHI, Organization of, Petroleum, European Union, United Arab, Thomson
Locations:
Russia, Saudi Arabia, China, India, OPEC, Moscow, Ukraine, Iraq, United Arab Emirates, Nigeria