BusinessReplacing 1 Million BPD Russian Oil Could Cost India $3.7 Billion Annually
India may incur an additional $1.8 to $3.7 billion annually if it replaces 1 million barrels per day of Russian oil with alternatives costing $5 to $10 more per barrel. Russia supplied about 1.9 million bpd in August, 42% of India's crude imports. The main challenge is alternative crude availability, not just price. India aims to diversify rather than sharply cut Russian oil amid rising fuel demand from October to March-April.
Business Standard·12h ago




