What Happened
Indian refiners have significantly increased purchases of Russian crude, securing around 60 million barrels for the upcoming month amidst Middle East conflict-driven supply disruptions.
Why It Matters
This surge is supported by a US waiver allowing imports of Russian oil loaded before March 12, with refiners also diversifying with Venezuelan and previously Iranian crude.
Background Context
Indian refiners have significantly increased purchases of Russian crude, securing around 60 million barrels for the upcoming month amidst Middle East conflict-driven supply disruptions. This surge is supported by a US waiver allowing imports of Russian oil loaded before March 12, with refiners also diversifying with Venezuelan and previously Iranian crude.
What To Watch Next
Track official statements, independent verification, and regional impact updates in the next 24 to 48 hours.
Editorial Next Step
Add your local context, fact checks, quotes, and analysis before or after publication.
Source: Times of India – Original Link
Source: Times of India
