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India's State Refiners Restart Urals Crude Imports Ahead of Key Talks
14 Aug
Summary
- Indian state refiners resume Urals crude oil purchases as discounts widen
- Purchases paused last month as discounts narrowed
- Timing linked to upcoming high-profile meeting between US and Russian leaders
As of August 14th, 2025, Indian state refiners have restarted making inquiries about purchasing Russia's Urals crude oil. This decision follows a widening of discounts on the Urals grade, prompting renewed interest after a pause in purchases last month when the discounts had narrowed.
The timing of this move is significant, as it comes ahead of a high-profile meeting between U.S. and Russian leaders on August 16th, 2025. Experts suggest this could potentially influence global oil market dynamics in the coming weeks and months.
The Indian state refiners that have resumed exploring Urals crude purchases include Indian Oil Corp, Hindustan Petroleum Corp, Bharat Petroleum Corp, and Mangalore Refinery Petrochemical Ltd. These companies had paused Russian oil purchases last month as the discounts had decreased, making the Urals grade less attractive. However, with the recent widening of discounts, the refiners have once again started making inquiries with trading firms about potential Urals crude purchases.
