US Crude Exports to India Hit over 2-Yr High in Feb as Russia Sanctions Bite
U.S. exports of crude oil to India surged to their highest in over two years in February, driven by refiners seeking alternative supplies following tighter U.S. sanctions on Russian producers and tankers. The country's third-biggest oil importer and consumer is now diversifying its crude supplies, particularly light-sweet barrels, as a result. This shift underscores the growing importance of India as a market for U.S. crude exports.
- As the global energy landscape becomes increasingly complex, countries like India are emerging as crucial players in shaping supply chains and driving demand.
- How will the increasing role of Indian refiners in the global oil market impact the geopolitics of energy trade in the years to come?