Indian oil imports may take a hit from next month as the G7 price cap on Russian oil takes effect from December 5, which will also impact overall inflation.
Russia has become India’s top oil supplier in October, surpassing traditional sellers Saudi Arabia and Iraq, according to data from energy cargo tracker Vortexa.
New Delhi will wait till the G7 announces the details of the price cap even as analysts said little can be done to restrict the flow of Russian crude in the global oil market.
