Brief by Shorts91 Newsdesk / 02:46pm on 04 Mar 2026,Wednesday India Global
Russia is ready to divert about 9.5 million barrels of crude oil to India to offset Middle East supply disruptions, an industry source told Reuters. The cargoes, currently in vessels near Indian waters, could arrive within weeks and help refiners manage shortages. India remains vulnerable, with crude stocks covering roughly 25 days of demand and limited inventories of refined fuels. Nearly 40% of its crude imports transit the Strait of Hormuz, now near-inaccessible after Iranian attacks following US-Israeli strikes. Russian oil’s share of India’s imports rose to around 30% in February. Moscow is also prepared to supply LNG as Qatar halted production. (PC: X)
