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Latest Analysis / East of Suez Oil Service

East of Suez Oil Alert - India’s imports of Russian crude unlikely to breach 2 mmb/d in the near term

Published: 31 October, 2023

Highlights:

  • India’s imports of Russian crude will remain rangebound at 1.6-1.8 mmb/d in the near term due to narrowing discounts. Different currency preferences could further complicate trade settlements.
  • The Middle East’s share in India’s crude imports averaged 45% during January-August 2023, ...

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