Oil-product shipments from India are on track to climb to their highest level since September as refiners cash in on robust profit margins after a Russian export ban and hostilities in the Middle East tightened supplies. Indian processors, including Reliance Industries and Nayara Energy, are redirecting cargoes to Europe and Asia where diesel and gasoline cracks have surged. The Russian ban on gasoline and diesel exports, implemented to stabilize domestic markets, removed a key competitor just as Red Sea shipping disruptions lengthened trade routes. Indian refiners, which import discounted Russian crude, benefit from both cheaper feedstock and higher product prices.

Export volumes could exceed 1.5 million barrels a day this month, nearing record highs. Traders say the window may narrow if Russian flows resume or Middle East tensions ease, but for now Indian margins remain near multi-month peaks.