India may buy more oil from UAE in the coming months after COP talks

Under pressure of russian crude, shipments from UAE has fallen 65 per cent in FY24 so far

India is expected to ramp up its purchase of crude oil from the United Arab Emirates (UAE) in the coming months following discussions between the two countries on the sidelines of the ongoing COP28 summit in Dubai, multiple sources in the know said.

The UAE has historically been India's third-largest source of crude.

It has suffered the largest drop in shipments since Indian refiners began to binge on Russian crude in 2022.

In the first six months of the current financial year (FY24), India has imported $3.2 billion worth of crude from the UAE, down from $9.35 billion in the