Barrel of backups: India’s crude imports bounce back despite Middle East disruptions
India’s crude oil imports are nearing pre-conflict levels, thanks to refiners diversifying away from traditional Gulf suppliers. Purchases from Russia, the US, and other regions have compensated for Middle East disruptions. Russia remains a favored source due to attractive pricing. While the Strait of Hormuz has reopened, Asian refiners are cautious about immediate increases in Gulf purchases, focusing on existing cargo coverage and maintenance schedules.
India’s crude oil imports are nearing pre-conflict levels, thanks to refiners diversifying away from traditional Gulf suppliers. Purchases from Russia, the US, and other regions have compensated for Middle East disruptions. Russia remains a favored source due to attractive pricing. While the Strait of Hormuz has reopened, Asian refiners are cautious about immediate increases in Gulf purchases, focusing on existing cargo coverage and maintenance schedules.
Continue Reading
- IPL 2025: Virat Kohli Just 24 Runs Away From Becoming First-Ever Batter To…
-
GAIL, Swiggy & more: Top stocks to buy on December 2 — check list
- China-US trade ties: Beijing trade representative meets Washington officials; economic cooperation in focus
- Mango-Stuffed Litchi: This Fusion Dessert Will Become Your New Summer Obsession
- Trump’s tariff windfall: CBO projects $4 trillion deficit cut from revenues; could ease strain on US debt
-
Mojtaba Driven By Revenge, Would Assassinate Trump “In A Moment”: Ian Bremmer
- India hopes to sign trade deal with NZ soon: Goyal
- Team India seeks blessings at Siddhivinayak ahead of semifinal — Watch
- India vs South Africa LIVE Updates, 1st Test Day 3: India Off To Worst Possible Start In Chase Of 124-Run Target
- Petrol, Diesel Prices To Remain Stable Despite Iran War Risks: Government Sources