Russia cuts crude oil exports to keep more barrels at home for refiners

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Russia cuts crude oil exports to keep more barrels at home for refiners - Business Standard

Quick Summary:

Kpler sees the run rate at 5.7 million barrels a day, close to levels last seen almost a year ago.

These restrictions did cause temporary disruptions in oil supplies to India, the top importer of Russian barrels, which initially refused to take barrels from that company’s vessels.

It’s a significant shift in oil flows, but the redirection in supplies from the Russian ports is manageable for the buyers like India and China.