Saudi Oil Exports to India Surge to Highest Level Since 2020

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Saudi oil exports to India are expected to reach their highest level since 2020, driven by increased shipments, which may alleviate pressure on India to import crude from Russia.

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Market impact analysis based on bullish sentiment with 80% confidence.

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Bullish
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80%
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Saudi oil exports to India are on course to book the strongest month since 2020, according to data from Kpler cited by Bloomberg. India has been under intense pressure from the United States to stop importing crude from Russia, and while New Delhi has been wary of making any formal commitments, oil flows to one of the world’s largest importers of the commodity have changed. Saudi oil shipments to India are seen at a daily average of between 1 million barrels and 1.1 million barrels, Kpler lead research analyst Sumit Ritolia said. This is…

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