U.S. Waiver Fuels Surge in India's Russian Crude Imports

India is winning the competition with China to attract Russian crude cargoes with vessels turning mid-voyage away from their previous Chinese destinations and heading for India, as the U.S. waiver on purchases of Russian crude on tankers and the Middle East supply shock drive Indian refiners back to buying Russia’s oil. The Aqua Titan crude oil tanker – which left Russia’s Baltic Sea port of Primorsk in mid-January and was signaling Rizhao in China as its destination – has made a U-turn in the South China Sea and is…