India's Russian Oil Surge Amid Middle East Chaos
Business & Finance News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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India surged oil imports from Russia to a record high in March 2026, filling a gap left by Middle Eastern disruptions. Despite US sanctions, Indian refiners, including Indian Oil Corporation and Reliance, increased purchases, with Nayara even continuing to buy. China also maintained high imports, while other countries like the Philippines and Brunei secured first cargoes in years. However, floating storage is dwindling, and Ukraines drone attacks on Russian ports could tighten supplies further in May.
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