02
Aug
New Delhi (Rajeev Sharma): Indian oil refiners will continue to source crude oil from Russian suppliers, with procurement decisions guided by factors such as price, crude grade, inventories, logistics, and other economic considerations, sources told ANI on Saturday. Russia, the world’s second-largest crude oil producer, pumps around 9.5 million barrels per day (mb/d), almost 10% of global demand, and exports nearly 4.5 mb/d of crude oil along with 2.3 mb/d of refined products. Sources noted that fears of Russian oil being excluded from the market in 2022 drove Brent crude prices to a record US$137 per barrel in March 2022.…
