Russian Oil Imports Hold Steady for India Amid Middle East Surge

India's imports of Russian crude have remained stable at around 1.8 million barrels per day in September, following a decline in August due to refinery maintenance and stronger Chinese buying.

Iraq and Saudi Arabia filled the gap left by Russia, with Iraq supplying 505,000 bpd and Saudi Arabia providing 576,000 bpd, according to data from Kpler.

Nikhil Dubey, Lead Analyst for Refining at Kpler, said that any reduction in Russian imports would lead to increased competition among Asian refiners for alternative supplies, potentially putting upward pressure on crude prices.