Russia's cheap crude sends OPEC's market share in India to a record low
The Organization of the Petroleum Exporting Countries has seen its market share in India shrink to a record low amid a flood of cheap Russian oil imports.
Russia now accounts for 36% of the country's imported supplies, or about 1.67 million barrels per day. Before the war started, that stood at less than 1%. Total Russian imports have now surpassed the combined purchases from Iraq and Saudi Arabia, which have been India's biggest suppliers over the last decade.
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