New Delhi. According to a recent report by data and analytics firm Kpler, India has become Europe's largest refined fuel supplier and has overtaken Saudi Arabia. Data shows that Europe's dependence on Indian crude oil products has increased. The main reason for this is the sanctions imposed on Russian oil by Western countries. Historically, Saudi Arabia has maintained a dominant position in oil supply at the global level and has always been among the top oil producers in the world. However, due to the sanctions imposed on Russia by European countries, India has rapidly expanded its scope due to the search for alternative sources. India is buying large quantities of crude oil from Russia and refining it and selling it to European countries. Used to be. According to Kpler data, Europe's oil import from India has crossed 3.60 lakh barrels per day. By April next year, this data is expected to cross 20 lakh barrels.
During the Russia-Ukraine war, India used to export 1.54 lakh barrels of fuel to Europe every day. When the Russia-Ukraine war started, it increased to 2 lakh barrels per day. Indian refineries have increased the supply of high quality refined fuel products. With this India defeated Saudi Arabia. This may increase further in the coming time. India got benefit from American sanctions on Russia. The sanctions imposed by America on Russia have given India an opportunity to buy Russian oil at cheap prices, due to which India will get about 7% oil between 2022 and 2024. Billions of dollars have been saved and purchasing power has increased.
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