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(Bloomberg) — India’s imports of Russian crude oil fell in October after works at a major refinery, according to data from Kpler. Most Read from Bloomberg Immigrants Are Leaving Canada at Faster Pace, Study Shows Israel Latest: Blinken Returning to Israel; Refugee Camp Hit Real Estate Industry Takes Fresh Hit With Verdict on Commissions Saudi Forces on Alert After Clash With Iran-Backed Houthis Sony’s Bungie Game Unit Cut 8% of Staff After ‘Destiny’ Play Wilted Shipments from Russia to its biggest buyer of seaborne crudes fell to an average of 1.58 million barrels a day last month, down 11% from September, the data showed. Reliance Industries Ltd. bought the least crude since September 2022 because of scheduled maintenance at several units of its Jamnagar plant. India, along with China, has been a key buyer of Russian grades shunned by many developed nations over the war in Ukraine, and has looked to benefit from discounted prices to boost refinery margins. The decline may just be a blip, with imports from Russia set to rise this month to about 1.8 million barrels a day, according to Viktor Katona, lead crude analyst at Kpler. Total shipments into India rose 6% in October […]
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