Indian state-run refiners IOC and BPCL have resumed limited purchases of discounted Russian crude for January delivery, securing cargoes at about $5 per barrel below Brent from non-sanctioned sellers. India’s total Russian oil intake is expected to stay modest—under 600,000 barrels a day—as refiners remain cautious amid tighter US sanctions and heightened bank scrutiny.
India picks up non-sanctioned Russian oil as discounts widen
Scroll