Free Trial
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
OIL
Russia has expanded its proportion of India’s crude imports, hitting 32% in February, according to the Economic Times. This compares to 27% in January.
- However, the share is down from 35% in November.
- In terms of volume, India’s imports of Russian crude are up 9% on the month to 1.41m b/d, 82% of which came from Urals cargoes.
- Flows have been little affected by the Red Sea disruption and have instead been boosted by demand from state-run refiners. State-run refiners bought 61% of India’s crude imports from Russia.
- Stricter enforcement of sanctions against ships carrying Russian oil has increased the risks for purchasing Russian oil, however.
- "There is a real risk that logistics constraints could be a bottleneck for Russia's crude exports to India, but we could possibly see increased dark activities to circumvent sanctions and keep flows going,", Vortexa analyst Serena Huang told the Economic Times.
Source: Economic Times
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok