Global Cocaine Production, Usage Hit Record Highs in 2023
Global Cocaine Production, Usage Hit Record Highs in 2023

Global Cocaine Production, Usage Hit Record Highs in 2023

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India's crude oil imports reached record levels in May 2025, rising nearly 10% month-on-month to 23.32 million metric tons, reflecting strong economic and industrial growth. Despite the surge in crude imports, refined product imports slightly declined, while exports of refined fuels increased by over 7% compared to the previous year. India has also reduced its dependence on Russian oil, cutting purchases by nearly 16% amid shifting global prices and geopolitical tensions following U.S. attacks on Iran's nuclear sites. Meanwhile, Asia overall saw a significant rise in crude oil imports in the first half of 2025, with June arrivals hitting the highest levels since early 2023, led by China and India. In parallel, India boosted its coal stockpiles at thermal power plants to a record 58.25 million tonnes ahead of the monsoon season, enhancing energy security with a combination of increased domestic coal production and a strategic push to expand both fossil fuel and renewable energy capacity. These developments highlight India's efforts to balance energy security and economic growth amidst volatile global energy markets.

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