Govt-owned oil refiners struggle to get adequate crude supplies from Russia

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Govt-owned oil refiners struggle to get adequate crude supplies from Russia - Business Standard

Quick Summary:

They added the deal has likely emboldened Russia to sell less in the spot market via traders, explaining the lack of spot cargoes.

Government refiners have bought about 1 million barrels a day of Russian crude so far this year, according to Kpler data.

Separately, the people also said it could be Moscow’s way of reducing spot cargoes sold by traders in favour of long-term contracts done directly with Russian producers.