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Cheap Russian oil cuts OPEC's share of India imports to record-low 50%

By Economic Times - 10 months ago
In 2023, India's reliance on OPEC's oil hit an all-time low, while imports of discounted Russian oil reached a record high, marking a significant shift in the country's crude imports. India, traditionally dependent on OPEC nations for the majority of its oil needs, imported nearly equal quantities from OPEC and non-OPEC members last year.

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