Diversification of India's Crude Oil Basket with Russian Oil Flows

Never before India's oil import basket has changed so dramatically as it has changed in the past three years. The sharp rise in the share of Russian barrels have displaced big volumes of Middle Eastern crude. And now, as Indian refiners start to explore the possibility of signing term deals for Russian crude, market players are looking for answers on how this might further change trade flows as well as influence the production strategy of OPEC and its allies.

In a wide-ranging discussion with Sambit Mohanty, Asia energy editor, Rosemary Griffin, OPEC lead at S&P Global Commodity Insights, Pulkit Agarwal, head of India content, and Daniel Colover, head of market engagement for the Middle East, discuss the evolving scenario and the implications it might have on supplies from other regions.

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