India's US crude imports rebound as Washington tightens screws on Russia

India may have bought over $1 bn of US oil in August; increasing such shipments helps it to trim trade surplus with the US

Oil imports, Crude oil
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While dirty Canadian crudes shipped from the US to India accounted for 35 per cent of overall US export volumes in August, the rest came from sweet grades | Photo: Bloomberg

S Dinakar New Delhi
4 min read Last Updated : Sep 04 2024 | 6:48 PM IST
Even as Russia and West Asia have been slugging it out for market share in India to sell their crude oil, the US is quietly making its moves on the sidelines. The US has doubled its share of the Indian crude market in the last few months, as per industry sources and ship-tracking data.

Some of the increase in America's market share may have come at the expense of Russia, India’s biggest crude oil supplier, said industry sources.

India may have bought over $1 billion of US oil in August, according to calculations by Business Standard based on ship-tracking