India’s oil imports from Russia fall to 1.78mln bpd in October

India’s Russian oil imports fell in October to reach 1.57 million barrels per day (million bpd), down from 1.78 million bpd in September, according to preliminary data from ship tracking agencies Kpler on Wednesday.

Indian refiners buy Russian oil on a delivered basis and pay for the cargoes after their discharge depending on the terms of the contract and volatility in crude oil markets pushes up the landed prices.