Supply volumes have decreased to their lowest level since June 2022—859,000 barrels per day (3.68 million tons)—according to a review by international pricing agency Argus, which RBC has examined.

Part of the decline in shipments to India is attributed to increasing pressure from the United States. New Delhi is aiming to reduce its oil imports from Russia in order to finalize a trade agreement with Washington. Concurrently, India is diversifying its raw material purchases and has resumed imports of Venezuelan oil after a lengthy hiatus.

How Russian oil exports to India are adapting to U.S. threats—in RBC’s material.


RBC in Telegram and MAX