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Russian oil supply to India tightens on reduced exports, strong Chinese demand
MOSCOW/NEW DELHI: Indian refiners expect Russian oil supplies to further tighten in October and November due to reduced exports and stiff competition from China, forcing the world’s third-largest crude importer to buy more costly alternatives for the rest of the year, four trade sources said. India has been the top buyer of seaborne Russian Urals crude since 2022, when Moscow diverted its energy flows away from Europe at deep discounts. However, in recent months, the world’s top crude importer China has ramped up purchases as supplies from the Middle East tightened due to the Iran war. Some In...
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