Two Major Indian Refiners Just Stopped Buying Russian Crude

Two of the biggest refiners in India have stopped looking for spot Russian crude oil supply set to arrive after December 5, the day on which the EU embargo on Russian oil shipments enters into force, sources familiar with the Indian firms’ procurement plans told Bloomberg on Tuesday. The two refiners are Indian Oil Corporation and Bharat Petroleum Corporation Limited (BPCL), according to the sources. India, the world’s third-largest crude oil importer, has been importing large volumes of Russian oil after the Russian invasion of Ukraine…