New Student Offer - Use Code HELLO

Register Now

Russia becomes India’s second Biggest oil Exporter

Published on June 14, 2022
Current Context: As per a recent report Russia rose to become India's second-biggest supplier of oil in May, pushing Saudi Arabia into third place.
Russia becomes India’s second Biggest oil Exporter
  • During May Indian refiners received about 819,000 barrels per day (bpd) of Russian oil, the highest compared to about 277,00 in April.
  • It accounted for about 16.5% of India's overall oil imports in May, whereas in the case of the Middle East declined to about 59.5%.
  • Western sanctions against Russia for its invasion of Ukraine provided Russian crude to record discounts against other grades.
  • This provided Indian refiners, an opportunity to purchase crude oil at low prices.
  • Apart from that India's oil imports in May were about 5.6% up from the previous month and about 19% from last year.
  • Higher oil imports from Russia curbed OPEC's share in India's overall imports to 65% in April.


Q.1 Which of the following countries' gas become the second-biggest oil exporter to India recently?
a. USA
b. Iraq
c. Venezuela
d. Russia
ebook store

About us

ramandeep singh

Ramandeep Singh, your guide to banking and insurance exams. With 14 years of experience and 5000+ selections, Ramandeep understands the path to success, having transitioned himself from Dena Bank and SBI. He's passionate about helping you achieve your banking and insurance dreams.

  • Follow me:
Close Menu
Close Menu