Indian Refiners Avoid Russian Oil Amid Trade Talks with U.S.

Indian refiners are reportedly steering clear of Russian oil scheduled for April delivery, according to industry sources. This move could facilitate a trade agreement between India and the United States. According to Jin10, both nations have taken a step towards finalizing a trade deal, announcing a framework aimed at completing negotiations by March. A trader who has interacted with Indian refiners noted that companies such as Indian Oil Corporation, Bharat Petroleum Corporation, and Reliance Industries are currently not accepting offers for Russian oil with loading periods in March and April.