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Indian Refiners Diversify Oil Sourcing Amid Russian Flow Disruptions

Bloomberg Markets •
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Indian refiners are scaling back purchases of Russian crude from elevated levels as Ukrainian attacks disrupt flows from the nation's top supplier. In response to pressure on Moscow's exports, processors have been seeking alternative barrels from West Africa and the Americas, while also turning to Persian Gulf suppliers despite restricted flows through the Strait of Hormuz due to the US-Iran conflict.