India Boosts Russian Crude Imports Amid Middle East Disruptions and Supply Diversification
India has significantly increased its crude oil imports from Russia, sourcing over half of its monthly needs in June, driven by discounted prices and supply shifts after Ukrainian attacks on Russian refineries. Despite Middle East disruptions, Indian refiners have diversified sources, including the US, Oman, West Africa, and South America, maintaining pre-conflict import levels. While Gulf exports are recovering, India remains cautious about Iranian crude amid US sanctions, with refiners entering maintenance periods limiting immediate demand.