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Updated · Bloomberg · May 18India Refiners Weather Russian Crude Waiver Expiry as China’s Spot Buying Nears 0
14 articles · Updated · Bloomberg · May 18
- India’s refiners are expected to absorb supply disruption after the US let a waiver for Russian crude purchases expire.
- Weaker domestic demand has softened the hit, with refinery maintenance reducing purchases by private-sector processors.
- Available barrels from the US and the Middle East are also helping replace lost flexibility in Russian supplies.
- China’s near-absence from the spot market has preserved cargo availability, giving Indian buyers more room to adjust.
Juggling Russian oil and US diplomacy, which superpower will ultimately secure India’s energy future? With the Strait of Hormuz closed, is India's energy resilience a reality or a fragile illusion?