5 days ago
India Scours the Globe for More Oil Ahead of Trump-Putin Summit
Refiners in India, the world's top importer of seaborne Russian crude, are scouring the globe for alternative supplies, hedging their bets ahead of a summit between the US and Russian leaders.
President Donald Trump, eager to gain traction in talks with Vladimir Putin, has demanded that India stop purchases of cut-price crude that fuels the Kremlin's 'the war machine,' and last week doubled tariffs on the country's goods as punishment. The move left refiners in the world's third-largest oil consumer looking to switch up their procurement plans.
