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To mitigate the rising cost of oil imports, India has turned to Russian barrels that are available at a deep discount to the dated Brent benchmark, citing "national interests". The Middle East accounts for the bulk of India’s oil imports, but at least two Indian refiners are planning on buying less Saudi oil as crude oil prices reach record highs. 

Some Indian refiners set up to cut May Saudi oil, snap up Russian barrels

To mitigate the rising cost of oil imports, India has turned to Russian barrels that are available at a deep discount to the dated Brent benchmark, citing “national interests”. The Middle East accounts for the bulk of India’s oil imports, but at least two Indian refiners are planning on buying less Saudi oil as crude oil prices reach record highs. 

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