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Posted on 07/31/2025 5:04:31 AM PDT by marcusmaximus
Indian state refiners have stopped buying Russian oil in the past week as discounts narrowed this month and U.S. President Donald Trump warned against purchasing oil from Moscow, industry sources said.
India, the world's third-largest oil importer, is the biggest buyer of seaborne Russian crude.
Corp, Hindustan Petroleum Corp, Bharat Petroleum Corp and Mangalore Refinery Petrochemical Ltd - have not sought Russian crude in the past week or so, four sources familiar with the refiners' purchase plans told Reuters.
IOC, BPCL, HPCL, MRPL and the federal oil ministry did not immediately respond to Reuters' requests for comment.
The four refiners regularly buy Russian oil on a delivered basis and have turned to spot markets for replacement supply - mostly Middle Eastern grades such as Abu Dhabi's Murban crude and West African oil, sources said.
(Excerpt) Read more at finance.yahoo.com ...
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Trump channeling Teddy Roosevelt.
“Exclusive-Indian state refiners pause Russian oil purchases, sources say”
Now I know why the price of crude has been SHOOTING UP for the past week. Let’s see how long Trump tolerates that.
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