India’s Refiners Come to the Rescue of Russia’s Oil Exporters
Bloomberg 2026-07-21 14:50:18
Context: India's refiners have significantly increased their imports of Russian crude oil, helping to rescue Russia's oil exporters. This surge in imports has continued into the current month, with deliveries of Russian crude oil to India nearing the record set in June. The increased demand from India has provided a vital lifeline to Russia's oil exporters.
Key Facts
- Deliveries of Russian crude oil to India so far this month remain near June's record, indicating a sustained surge in imports.
- India's refiners have emerged as a crucial market for Russian oil exporters, helping to offset potential losses from other markets.
- The increased imports of Russian crude oil by India have provided a significant boost to Russia's oil exporters, who have faced challenges in recent months.