Indian Oil, BPCL, HPCL may boost Russia oil imports as India-US trade talks drag on

Indian refiners, led by Indian Oil, BPCL and HPCL, are expected to boost their Russian oil imports as India-US trade talks drag on and discounts widen.

Discounts on Urals crude loading in November are $2-2.50 a barrel to Dated Brent, making it attractive, people familiar with the developments said. That’s cheaper than discounts of about $1 a barrel in July-August, when supplies were tight due to Moscow’s prioritising local customers.