Indian Refiners Face Tight Russian Oil Supply
Indian refiners expect Russian oil supplies to tighten further in October and November. Reduced exports and strong Chinese demand are forcing India to seek costlier alternatives.
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India faces tightening oil supplies from Russia through November, as reduced exports collide with aggressive buying from China amid regional supply constraints. The squeeze threatens to push the world's third-largest crude importer toward pricier alternative barrels for the rest of the year. Indian refiners have been the primary buyers of seaborne Russian Urals crude since 2022, when Moscow rerouted its energy flows away from Europe.
