After India received temporary permission from the US, tens of millions of barrels of Russian oil are approaching India.
According to Odaily, ship tracking data shows that there are currently more than 15 million barrels of Russian crude oil in waters near India, providing a way for India to quickly respond to the Middle East supply shortage after the United States issued a temporary license allowing purchases. These crude oils are distributed on more than a dozen tankers in the Arabian Sea and the Bay of Bengal, and appear to be unsold or without a designated destination port, and are expected to arrive in India within a week. In addition, about 8 ships carrying approximately 7 million barrels of Urals crude oil are on standby in Singaporean waters and may also arrive in India within a week. Besides this, more cargoes are being transported eastward via the Mediterranean and the Suez Canal, and are expected to possibly arrive in India within a month. Kpler data shows that tankers loaded with Russian oil had already begun changing course and signaling Indian ports before the U.S. government issued the license on Thursday night, and currently about 18 Urals crude oil ships are showing as heading toward India. Data intelligence company analyst Sumit Ritolia stated: "Refiners may quickly resume purchases, and daily procurement volume is expected to exceed 2 million barrels again in the short term. The deep discount on Russian crude oil may narrow significantly, and could even turn into a premium." (Golden Ten Data)
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