US Crude Exports

The president's comments on Tuesday nod to American voters' cost-of-living concerns with November midterm elections just weeks away

US oil continues to backstop the supply gaps left by the war

India slightly cut its reliance on Russian crude in early 2025, while imports from the US surged 83.3 per cent in value to $7.8 billion, reflecting a strategic shift toward alternative crude sources

The US has grown into the world's third-largest exporter behind Saudi Arabia and Russia since it lifted a 40-year federal ban on exports of domestic oil in 2015

India's Reliance, operator of the world's biggest refining complex, will not buy Russian oil loaded on tankers operated by Sovcomflot after recent US sanctions

Russian oil is on pace to account for 21 per cent of all imports into India, shrinking the shares of Iraqi and US crude

Many analysts and traders see the latest Covid-19 flare-ups as a short-term hit to oil demand

Modi administration has been encouraging more crude imports by waiving some shipping requirements