1 of 1
Story summary
- Indian refiners plan to buy about 60 million barrels of Russian oil for delivery next month, matching March's total and more than double February's.
- The purchases follow a United States (U.S.) waiver allowing imports loaded before March 5, amid disruptions in the Strait of Hormuz.
- Indian refiners are also increasing Venezuelan crude imports to diversify supply, while Russia gains from renewed demand and high prices since the Ukraine invasion.
