India loads record Russian oil ahead of US sanctions deadline
India is quickly stocking up on Russian crude oil this November, trying to beat the US sanctions deadline on November 21.
In October, India brought in about 1.62 million barrels per day—steady from September—but Russian ports actually loaded even more for India at 1.74 million barrels per day.
These shipments are set to arrive just in time, ensuring that most October-loaded cargoes reach India before the US sanctions deadline.
Russia's exports to China dropped nearly 30% last month
This boost in Russian oil for India comes as global patterns are changing fast.
Russia's exports to China dropped nearly 30% last month, showing China isn't buying as much.
Meanwhile, the US has stepped up big time—its crude exports to India nearly tripled from September, making America now India's fourth-biggest supplier thanks to some favorable price differences (that Brent-WTI spread).