Relief At Last As Russian Oil To Start Flowing Again- Details

It is likely that fewer tenders will be issued for spot crude in the coming months by Indian refiners as volumes from top supplier Russia have returned to near normal levels, emphasising on the success of the trade in working around US sanctions.

Where Does Indian Oil Sector Stand?

India's state-owned processors are back on track trying to secure over three dozen cargoes that will load next month, according to a Bloomberg report.

There may be more than 60 shipments of discounted Russian crude in April or almost 52 barrels, combined with deliveries for private refiners reliance Industries and Nayara Energy, according to the report.

What Crushed Russian Oil Supply To India?

Russian oil supply to India was crushed as a transition period for tighter US sanctions on shipments from Russia came to an end, forcing the state-owned refiners to issue spot tenders that led to them buying more expensive oil from alternative producers.

Currently, enogh "clean" Russian cargoes have been lined up, which means that shipments that are untouched by any US-sanctioned entity can help the companies meet most of their spot demand and ease concerns over future supplies.

As per the report, most of the cargoes were booked at a discount of less than $3 a barrel to benchmarks.

According to data from Kpler, Russia’s monthly crude exports to India have fallen to 1.6 million barrels a day this year, down from an average of 1.8 million in 2024.

This development comes at a time when there is broader optimism over Russian oil supplies.

According to European officials, the Trump administration has pared back its engagement with efforts to enforce sanctions as the US pushes for an end to the Ukrainian war. 

Also Read: Stock Market Zooms: Five Stocks That Rallied In Nifty and Sensex Today - List