State-owned refiners seek to restore Russian crude buys

STATE-OWNED OIL refiners in India want to fully revive purchases of discounted Russian crude — pushing back against US pressure — but plans have been set back by a lack of cargoes, people familiar with the matter said.

- SERENE CHEONG & RAKESH SHARMA

The refiners in the South Asian nation are getting fewer offers for October-loading Russian cargoes, said the people, who asked not to be identified given the sensitivity of the trade. Barrels from Moscow had been redirected to China.