US official says India slashed Russian oil purchases by half

OCTOBER PURCHASES ROBUST AFTER SEPTEMBER DIP: KPLER DATA

- FE BUREAU

INDIA HAS REDUCED its oil purchases from Russia by half, Reuters reported on Friday quoting an official from the White House.

The official was also quoted as saying that talks with an Indian delegation in Washington this week have been productive, and that Indian refiners were already cutting Russian oil imports by 50%.

Data from Kpler, global real-time data and analytics provider, on the other hand shows no sign of a slowdown in India's intake of Russian oil this month. Indian imports of Russian crude are tracking at a strong 1.8 million barrels per day so far in October, provisionally up from 250,000 bpd in September, as per data shared by Kpler.