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OPEC Boosts Oil Exports to India as Russian Flows Slump
Market Intelligence Analysis
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Why This Matters
OPEC's share of India's oil imports has increased to 11-month highs, while Russian oil exports to India have dropped by 22% due to US sanctions, with Reliance Industries being a major contributor to the decline.
Market Impact
Market impact analysis based on bearish sentiment with 80% confidence.
Sentiment
Bearish
AI Confidence
80%
Time Horizon
Short Term
Article Context
Note: This is a brief excerpt for context. Click below to read the full article on the original source.
The share of OPEC crude oil in India’s import mix surged to the highest in 11 months in December as Russian shipments dropped to the lowest in two years on the latest U.S. sanctions. Reuters reported, citing trade data, that the share of OPEC crude in India’s imports went up to 53.25 of the total, while Russian oil flows dropped by 22% to 1.38 million barrels daily, to represent 27.4% of total Indian oil imports. A big chunk of the decline came from Reliance Industries’ suspension of purchases from sanctioned Rosneft, with which…
Original article published by
OilPrice.com
on January 16, 2026.
Analysis and insights provided by AnalystMarkets AI.
Analysis and insights provided by AnalystMarkets AI.