For weeks, the India–US trade deal has looked somewhat stalled. There have been no major statements or timelines and little sign of fresh progress. But shifts in India’s energy sourcing suggest the story is beginning to move.
India’s oil basket is where the first signs of change have appeared. Russian barrels, which had become the biggest point of friction for Washington, fell sharply in November. Tanker tracking shows arrivals around 9.48 lakh barrels a day, almost half of October’s volume.
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Refiners say they have been adjusting procurement for export-linked units, especially after the latest US sanctions targeted major Russian suppliers and raised the risk of disruptions. Experts, speaking on condition of anonymity, say these shifts are clearing the path for the broader India–US trade agreement.
OIL PIVOT COSTLY
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