India Can Ride Out Disruption After Russian Oil Waiver Lapse

India’s oil refiners are expected to weather disruption in supply after the US allowed its waiver on Russian crude purchases to expire, thanks to weaker demand and available barrels from the US and the Middle East.

China’s virtual absence from the market has been key to preserving spot supply, according to traders familiar with the matter. India’s own demand is also cooler, as a result of maintenance that has cut back overall purchases from private refiners.