Russia continued to be top oil supplier to India in 2024
OPEC39;s share in India39;s Dec crude imports at 10mth high
Middle East39;s share in India39;s Dec crude mix rose to 22mth high

NEW DELHI, Jan 17 Reuters OPEC39;s share in India39;s crude oil imports edged up in 2024, rising for the first time in nine years, while top supplier Russia39;s share remained steady, data obtained from trade sources showed.

Russia39;s share in the world39;s thirdbiggest oil importer and consumer is expected to drop in 2025 after Washington last Friday announced sweeping sanctions targeting Russian producers and tankers, disrupting supply from the world39;s No. 2 producer to India and China and tightening ship availability.

India imported 4.84 million barrels per day of oil in 2024, up 4.3 from the previous year, the data showed.

The share of Organization of the Petroleum Exporting Countries OPEC in India39;s 2024 crude imports rose to nearly 51.5, up from 49.6 in 2023, while Russia39;s share in 2024 remained at about 36, the data showed.

There is higher demand for Middle Eastern barrels from Asia refiners, especially India, due to lower Russian supplies, said Priti Mehta, senior research analyst at consultancy Wood Mackenzie.

Indian refiners have stepped up purchases of Middle Eastern grades since late 2024 as Russian supplies fell, refining sources told Reuters last month.

The share of Middle Eastern oil in India39;s December crude imports rose to a 22month high to about 52, the…