"India's Increased Saudi Oil Imports Offset Russian Plunge Amid Price Cuts and Geopolitical Tensions"

Saudi Arabia's recent oil price cuts have led Indian refiners to increase their purchases of Saudi crude as imports from Russia hit an 11-month low due to better discounts available elsewhere. Payment issues with Russian oil suppliers, including a dispute over currency and pressure to maintain good ties with the US, have contributed to the decline in Russian imports. India's oil chief stated that the drop in purchases from Russia is due to better discounts on crude available from other suppliers.