India’s Oil Imports Set for Record High in January
Market Intelligence Analysis
AI-PoweredIndia's oil imports are expected to reach a record high in January due to increased non-Russian crude purchases, offsetting the decline in Russian crude imports.
Market impact analysis based on bearish sentiment with 70% confidence.
Article Context
India is on track to import record-high volumes of crude oil and condensate in January as refiners boost non-Russian purchases to replace barrels lost to U.S. sanctions, energy flow tracking firm Vortexa said in a report on Wednesday India’s crude and condensate imports will likely hit 5.2 million barrels per day (bpd) this month—a new record, as deliveries of cargoes laden with non-Russian oil surged. The jump in non-Russian crude imports is set to more than offset the decline in India’s imports of Russian crude, according to…
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