Russian oil supply uncertainty is affecting India’s largest state-owned refiners, with sources telling Bloomberg that refiners face the most significant supply uncertainty in months. The uncertainty is linked to the continuing impact of a prolonged conflict in the Middle East, alongside the possibility of tighter US restrictions on Russian oil purchases.
NDTV reports that India has been managing import costs by relying on discounted Russian crude and relatively steady term supplies from the Middle East. It notes that this sourcing strategy is being strained as conditions shift. While both outlets point to the same drivers—Middle East disruption and uncertainty around Russian supply and sanctions—the emphasis differs: Bloomberg highlights prospective changes in US policy, while NDTV focuses more on how India has previously used Russian discounts and Middle Eastern term contracts to control costs.
