India’s oil imports from Russia rose to a record 2.1 million barrels per day in May. This is due to a decline in China’s demand for Russian oil, states Reuters. In particular, this increased Russia’s share as the world’s third largest importer and consumer to almost 41% last month. At the same time, supplies from Saudi Arabia fell to a 10-month low after Saudi Aramco raised its term oil prices for a second month in May. According to Reuters, refineries in India have pounced on Russian oil, which is being sold at a discount after some European countries refused to buy from Moscow because of its…