CURRENT AFFAIRS

Detailed explanation-1: -Russia is reported to have become India’s largest supplier of crude oil in October 2022 as refiners stepped up the purchase of discounted seaborne oil.

Detailed explanation-2: -Russian oil accounted for about 23 per cent of India’s overall import of about 4 million bpd oil in November, the data showed.

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% 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-5: -NEW DELHI: India has become one of the main outlets for Russian seaborne crude oil ever since its invasion of Ukraine in February. On Wednesday, a report by Reuters said that Russia has emerged as the top oil supplier for India for second month in a row. It has replaced Iraq to be India’s No.