Asia Takes Most Russian Urals Oil in 23 Months Amid Europe Snub
- Urals east-bound flows advance as Indian plants buy more
- Europe refiners dial down Russian oil buying amid Ukraine war
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Russia’s flagship Urals crude oil is increasingly heading to Asia, as European buyers scale back purchases following Russia’s invasion of Ukraine and international sanctions aimed at isolating Moscow.
Asia will take about 1.24 million tons of the grade that loaded in March, the highest volume for any month since April 2020, according to tanker-tracking data compiled by Bloomberg and port agent reports. That equates to about 293,000 barrels a day.