India’s crude oil imports from Russia declined in July for the first time in nine months, while imports from Saudi Arabia dropped to their lowest in 2-1/2 years due to OPEC+ cuts. Both China and India reduced imports from Russia and Saudi Arabia as prices increased and the producers reduced output. India’s overall oil imports also decreased by 5.2% in July, with Russian oil imports declining by 5.7% and Saudi shipments falling by 26%.