China's crude imports from Saudi hit fresh high in June

Imports from Saudi Arabia rose to 8.88 million tonnes or 2.16 million bpd in June

India's oil imports in May sink to lowest in over 8 years

Indian refiners in April filled tanks with cheaper oil, sold extra cargoes to the federal government for strategic reserves

India currently levies 37.5% and 45% import tax respectively on crude and refined palm oil

Oil product imports dropped 6.5% to 3.35 million tonnes, their first year-on-year decline in 16 months

Oil prices have dropped by about two-thirds this year as the COVID-19 pandemic has hammered demand

Yemen's Houthi terror group took responsibility for biggest-ever attacks on Saudi oil facilities which severely impacted global oil supply.

The government’s move comes at a time when oil price fluctuations build anxiety in the energy market in the country.

India currently imposes a 40 per cent import tax on crude palm oil and 50 per cent on refined palm oils.

NITI Aayog has reportedly proposed that after 2030, only electric vehicles should be sold in India.

Mike Pompeo had said India has made 'hard choices' to cut off oil imports from Iran.