India’s Major Oil Companies Eye Increased Russian Imports Amid Slowdown in US Trade Talks

Indian refiners, particularly Indian Oil, BPCL, and HPCL, are likely to increase their purchases of Russian oil. This comes as trade discussions between India and the U.S. slow down and discounts for Russian crude grow more appealing.

Currently, discounts on Urals crude for November are around $2 to $2.50 a barrel cheaper than Dated Brent. This is an improvement from discounts of about $1 a barrel seen earlier in the summer when supplies were more uncertain due to Moscow’s focus on local markets.

Recent data indicates that India’s oil imports from Russia might reach approximately 1.7 million barrels per day in October. That’s a 6% increase compared to September, although it’s slightly lower than last year’s figures.

A key context is the 50% tariff imposed by the U.S. on India’s oil imports in August. This move was intended to pressure India into reducing its Russian oil purchases. However, while the U.S. has focused on India, it has not applied the same pressure on China, another significant buyer of Russian oil. In response, India has emphasized that its energy deals are driven by pricing and expressed a desire to acquire more U.S. energy as negotiations continue.

While Indian officials described last month’s discussions with the U.S. as “constructive,” uncertainty lingers over future refinements in purchasing habits concerning Russian crude.

Moreover, Indian Oil, BPCL, and HPCL are exploring new term deals with Middle Eastern and African oil firms for 2026. These talks reflect a strategy to secure more flexible supplies, which could allow refiners to adapt if Russian imports become more viable.

As the oil market evolves, user reactions on social media suggest a growing concern about energy sourcing and international relations. Many are debating whether India should align more closely with U.S. energy policies or maintain its current purchasing strategies.

This situation not only highlights India’s energy needs but also emphasizes the broader geopolitical dynamics at play. As countries navigate these tensions, the implications for global oil markets and trade relationships will continue to unfold.

For more insights on global energy markets, refer to reports from the U.S. Energy Information Administration EIA.

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