In a move that is possibly aimed at reducing trade issues with the Donald Trump administration, India has stepped up its crude oil imports from the US substantially. Crude imports in the month of October have hit 540,000 barrels per day till October 27 - a level which is the highest since 2022, as per Kpler data. According to a PTI report, the crude import numbers reflect India’s strategic initiative to expand its oil import sources beyond Russia whilst addressing trade-related concerns with the Trump administration. US crude oil imports to India surged due to economic factors, including a favourable arbitrage opportunity, an expanded Brent-WTI differential, and reduced Chinese purchasing, which made WTI Midland an attractive option for Indian refineries, as explained by Sumit
Easing trade tensions with Trump: India’s crude imports from US surge to highest since 2022; diversification away from Russian oil?
The Times of India2 hrs ago
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