Indian refiners have been aggressively purchasing Russian oil in the past two months, and purchases are expected to remain at high levels this year

Golden Ten Data, April 10 – Indian refiners have made large purchases of Russian crude over the past two months and expect to maintain current high buying levels for the rest of this year, as the country copes with tightening Middle Eastern supply and the threat of US sanctions begins to ease. Executives at major refiners said they anticipate the US waivers allowing the purchase of Russian oil will be extended before they expire in the coming days. But even without the waivers, given the lack of supply options, purchases are unlikely to fall back. Vandana Hari, founder of Singapore consultancy Vanda Insights, noted that India is taking every opportunity to secure Russian oil. As long as supplies from the Persian Gulf remain limited, India is expected to continue maximizing imports of Russian crude.