India to remain top buyer of Russia’s Urals crude in December

India is taking most of Russia’s Urals crude oil loading in December as it remains top buyer for a second month in a row, according to traders and Refinitiv data.

Volumes and India’s share of the exports are expected to rise month on month despite a shorter loading plan for Russia’s Western ports, traders said.

In November India accounted for about 53 per cent of the total tanker shipments of the grade – the highest level on the record.

India’s share may exceed 70 per cent of total loadings in December, according to market participants.