{
  "id": 12846513,
  "title": "Indian refiners turn back to Middle East suppliers",
  "url": "https://urgent.news/2026/10/08/indian-refiners-turn-back-to-middle-east-suppliers",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-08T10:19:00.000Z",
  "source": {
    "name": "New Voice of Ukraine",
    "slug": "new-voice-of-ukraine",
    "url": "https://english.nv.ua/business/indian-refiners-cut-russian-oil-purchases-as-urals-prices-surge-bloomberg-50648204.html"
  },
  "original_language": "en",
  "account": "Indian refiners are increasingly turning back to Middle Eastern suppliers as they reduce purchases of Russian crude, according to Bloomberg. The shift is driven by growing competition from China, which is pushing up prices and making alternative Middle Eastern supplies more readily available. Russian crude, particularly the Urals grade, has seen a sharp price rise, with premiums of over $10 per barrel compared to Dated Brent. Economic considerations are now outweighing pressure from Washington to reduce Indian purchases from Russia, India's largest crude oil supplier. Russian crude is priced close to competing Middle Eastern grades, prompting refiners to return to Persian Gulf suppliers. Some Russian cargoes are also being offered to independent Chinese refiners, increasing competition for available volumes. India, the world's third-largest crude oil importer, had already begun reducing Russian purchases due to increased risks of sanctions-related tariffs. Russian crude imports to India fell to about 35% in September from a peak of 56% in July. The shift to Middle Eastern oil follows a period when India became heavily reliant on Russian crude after disruptions to Middle Eastern shipments. Persian Gulf barrels offer Indian refiners shorter shipping distances and lower freight costs, while Saudi Arabia has cut prices for its benchmark Arab Light crude, increasing competition. India's dependence on Russian oil had reached record levels in July, but the trend has reversed as supplies from the Middle East have recovered.",
  "summary": "Indian refiners have reduced purchases of Russian crude for November delivery as growing competition from China pushes up prices while alternative supplies from the Middle East become more readily available, Bloomberg reported on Oct. 8.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}