Indian state refiners increase Russian oil imports as private firms exit

Summary

State-run refiners in India have increased their imports of Russian oil, taking advantage of discounts reaching $7 per barrel. This marks a shift as private refiners have exited the Russian oil market, which had previously seen lower discount levels in mid-2025.

Recent Coverage

• Indian State Refiners Lap Up Russian Oil as Private Firms Exit

  Energy Intel • Jan 16