CURRENT AFFAIRS

Detailed explanation-1: -Russia, which made up for just 0.2% of all oil imported by India in the year to March 31, 2022, supplied 9, 09, 403 barrels per day (bpd) of crude oil to India in November. It now makes up for more than a fifth of India’s oil supplies.

Detailed explanation-2: -Russia has for the first time emerged as top oil supplier to India replacing Iraq as refiners last month snapped up oil from Moscow fearing a price cap from Dec.

Detailed explanation-3: -India imported 68, 600 bpd of Russian oil in March 2022, which increased to 266, 617 bpd in the following month and reached the previous peak of 942, 694 bpd in June 2022. But in June 2022, Iraq was India’s top supplier with 1.04 million bpd of oil. Russia, in that month, became India’s second-biggest supplier.

Detailed explanation-4: -Russia, which made up for just 0.2 per cent of all oil imported by India in the year to March 31, 2022, supplied 935, 556 barrels per day (bpd) of crude oil to India in October–the highest ever.