West Asia Conflict Spurs India's Surge in Russian Oil Demand

The conflict in West Asia is expected to increase India's demand for Russian crude oil, potentially reaching 1.5 million barrels per day by 2024-2025. Experts suggest India's purchase grows due to sensitivity to import prices and supply disruptions, alongside discussions on US policy adjustments to stabilize oil markets.

The ongoing conflict in West Asia may prompt a significant rise in India's demand for Russian crude oil, potentially achieving peak levels of 1.5 million barrels per day by the 2024-2025 period. This projection comes from leading experts in the global oil trade.

Deputy Prime Minister Alexander Novak pointed out Russia's anticipation of increased demand for their oil in India. In line with this sentiment, Maxim Malkov, a global hydrocarbons trade expert, informed TASS about the potential rise in India's oil imports from Russia due to the geopolitical turmoil.

Experts cite India's price sensitivity and the physical shortage of oil amid supply disruptions as key reasons for the surge. There's speculation that the US might allow more Russian oil into India to prevent price hikes if the West Asian conflict persists.