The share of OPEC crude oil in India’s import mix surged to the highest in 11 months in December as Russian shipments dropped to the lowest in two years on the latest U.S. sanctions. Reuters reported, citing trade data, that the share of OPEC crude in India’s imports went up to 53.25 of the total, while Russian oil flows dropped by 22% to 1.38 million barrels daily, to represent 27.4% of total Indian oil imports. A big chunk of the decline came from Reliance Industries’ suspension of purchases from sanctioned Rosneft, with which…
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