India Benefits as Russian Oil Floods Market

More crude oil from Russia has become available for Indian refiners as Ukrainian drone attacks have reduced the Russian refining capacity, an Indian government official Reuters on Monday. Since the Russian invasion of Ukraine, India has relied on the discounted Russian crude banned in the West to reduce its crude import bill. Indian refiners have significantly increased their purchases of Russian crude, making India the second-largest buyer of Russia’s oil, behind only China. However, the Trump Administration, facing difficult trade negotiations…Weiter zum vollständigen Artikel bei OilPrice.com Weiter zum vollständigen Artikel bei OilPrice.com