Oil Glut Helps Indian Refiners Pivot Away From Russian Crude
Processors will have to pay more for their feedstock, but a global oversupply should provide plenty of options.
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Welcome to our guide to the commodities driving the global economy. Today, Asia Oil Team Leader Serene Cheong looks at the new reality for Indian refiners, many of which will be deprived of cut-price crude.
Faced with an impending slump in Russian oil imports, a number of Indian refiners are returning to their traditional suppliers. Fortunately for them, the global market is bracing for a glut, making it easier to knock on the doors of Middle Eastern and African producers.