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Oil Imports: India s splurge on cheap Russian crude may be over

India s reliance on cheap Russian crude oil is expected to decrease as traditional Middle Eastern suppliers offer more attractive conditions. Since Russia s invasion of Ukraine last year, India s consumption of Russian crude has increased significantly, surpassing Saudi Arabia and Iraq as the top supplier. However, rising prices have reduced the discount on Russian crude, making other sources, including those with term contracts, more appealing.

Govt negotiating second cargo of discounted Russian crude

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