business ⛽ India's Russian oil imports are slowing down
India's crude oil imports from Russia have eased from the record high seen in July. This trend is happening as Ukrainian attacks on Russian infrastructure and competition from China have impacted Indian oil intake. In July, imports hit a high of 2.8 million barrels per day, up from 2.7 million bpd in June. The slowdown in August is expected to bring imports down to about 2 million bpd, according to Kpler. Consequently, Indian refiners are seeking alternative supplies from West Africa and the Americas. ⛽