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China and India Boost Crude Purchases as Global Glut Looms
Yahoo Financeยท 2025-11-17 09:30
Group 1 - China and India are increasing their crude oil purchases, primarily from the Middle East, providing relief to producers amid oversupply concerns [1][2] - Indian refiners are diversifying their crude sources, including West African and Qatari crude, while also increasing imports of Russian crude ahead of new U.S. sanctions [2][3] - In October, India imported approximately $3.6 billion worth of Russian energy commodities, with crude oil constituting 81% of this total, reflecting an 11% increase from September [3]