Crude imports from Russia touch 5-month high in Nov

SHIPMENTS SEEN PLUNGING THIS MONTH WITH SANCTIONS IN FORCE

- ARUNIMA BHARADWAJ

INDIA'S PURCHASES OF Russian oil turned stronger and hit a five-month high of 1.8 million barrels per day (bpd) in November. Shipments of Russian grade accounted for over 35% of the country’s total crude import mix in the month, according to data from Kpler.

The surge in inward shipments of Urals was due to front-loaded arrivals ahead of the November 21 deadline for the US sanctions on two large Russian oil companies — Rosneft and Lukoil — to take effect. Refiners accelerated scheduling and speeded up vessel turnarounds, particularly for Rosneftand Lukoil-linked cargoes.

Looking ahead, the country's imports of Russian barrels are expected to go down to 1-1.2 million bpd in December, a record low, owing to the latest US sanctions. High domestic demand and strong refinery runs during the fourth quarter of 2025, when Russian barrels remained the most economical, pushed up imports from Russia before the sanctions kicked in.