OPEC’s market share in India fell to a record low due to an influx of cheap Russian oil imports. In April, the cartel’s share decreased to 46% from 72% a year earlier, as reported by the Economic Times. India has capitalized on low-cost Russian oil since the invasion of Ukraine, with Russia now accounting for 36% of India’s imported supplies. Meanwhile, OPEC supplied 2.1 million barrels per day to India last month. Western sanctions have prompted Russia to seek alternative energy markets in Asia. In April, Russia’s oil exports returned to pre-war levels, as China and India account for around 90% of the shipments.