
India’s fuel exports could come under pressure if Saudi crude disruptions persist, amid the sanctions worries about Russian oil, raising costs for Indian refiners and potentially reducing shipments
Chinese and South Korean refiners are among the top buyers of the spot supplies, while some volumes will be going to India and Japan
India’s state-run refiners have already secured enough crude for the next two months and are in no rush to resume purchases from the Middle East even if the Strait of Hormuz reopens to commercial traffic.
India’s Bharat Petroleum Corp. Ltd. has largely shifted to making spot crude purchases as the Iran war upends annual arrangements for Middle Eastern barrels, highlighting challenges for refiners to secure supplies.