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Indian refiners adjust sourcing as Russian crude discounts fade
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With Russian oil discounts fading under sanctions, Indian refiners are diversifying supply sources to safeguard margins and operational stability.
India’s leading refiners, including Reliance and IOC, are recalibrating their crude procurement strategies as steep discounts on Russian oil narrow following renewed U.S. and EU sanctions. The move threatens profit margins and could tighten Asia’s spot crude market. Companies are exploring Middle Eastern and Latin American suppliers while meeting compliance deadlines. Analysts expect potential short-term price volatility and reduced refinery throughput until alternative deals stabilize supply chains.