US Crude Exports to India Hit Over 2-Yr High in Feb as Russia Sanctions Bite
US crude exports to India last month climbed to their highest in over two years, ship tracking data showed, as refiners in the country sought alternative supplies following tighter US sanctions on Russian producers and tankers. The jump in exports to India underscores how multiple rounds of sanctions imposed by Washington on ships and entities dealing with oil from Iran and Russia since October are disrupting trade with major importers of their oil. Indian refiners are trying to diversify their crude supplies, especially light-sweet barrels, as they seek to reduce dependence on Russian oil.
- The surge in US exports to India is likely to have far-reaching implications for the global energy market, particularly in regions where sanctions are having a significant impact on supply chains.
- Will this increased reliance on US oil lead to a shift in India's energy policy, and how might this influence its relations with other major oil-producing countries?