India’s oil exports soar to record highs, Russian crude and ethanol blending key drivers: Report

Indian oil refiners are increasing petroleum exports to their highest levels in several years, Reuters reports. The report adds that India’s petroleum exports are driven by expanded crude processing capacity and increased domestic ethanol blending that has freed up fuel supplies for overseas markets

Indian petroleum refining companies, which source about a third of their crude oil from Russia, are boosting runs and redirecting surplus barrels abroad.