Sunday, April 16, 2023

India may buy Russian crude past cap if OPEC+ cuts boost costs

The stance underscores the pressing need in the country of 1.4 billion people to curb inflation and spur growth amid a surprise output cut by OPEC+ and western sanctions to rein in Russia’s oil revenue following the invasion of Ukraine. India, along with China, has emerged as one of the key buyers of Russian crude. It is now India’s top supplier, above Iraq and Saudi Arabia.

from Energy-Industry-Economic Times https://ift.tt/5qKb7gr

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