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India's Russian Oil Imports Expected to Fall to ~2 Million BPD in August From Record Highs Amid Supply Tightness and China Competition
India's crude oil imports from Russia are set to decline to about 2 million barrels per day (bpd) in August, down from a record high of 2.8 million bpd in July. This reduction is attributed to Ukrainian attacks on Russian export infrastructure and increased competition from China for Russian crude. Indian refiners are now seeking alternative supplies from regions like West Africa and the Americas.
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