Oil imports from Russia hit 5-month high in Nov

India’s purchases of Russian oil turned stronger and hit a 5-month high of 1.8 million barrels per day in November. Shipments of Russian grade accounted for over 35% of the country’s total crude import mix in the month, as per data from Kpler.

The surge in inward shipments of Urals was due to front-loaded arrivals ahead of the November 21 deadline for the US sanctions on two large Russian oil companies — Rosneft and Lukoil — to take effect. Refiners accelerated scheduling and speeded up vessel turnarounds, particularly for Rosneft- and Lukoil-linked cargoes.