Russia jumps to fourth position as oil supplier to India, tanker data shows – Reuters.com

Russia jumps to fourth position as oil supplier to India, tanker data shows – Reuters.com

NEW DELHI, May 17 (Reuters) - Russia became the fourth-largest oil supplier to India in April, with volumes set to rise further in coming months as low prices spur demand from the world's No. 3 oil consumer and importer, tanker tracking data showed.

Russia's share in India's oil purchases rose to a record 6%, about 277,000 barrels per day (bpd) in April, up from about 66,000 bpd in March, when it was in 10th position, according to the data, which was supplied by trade sources.

Indian Oil Corp. (IOC.NS), the country's top refiner, bought its first-ever Russian Arco oil cargo last month.