Oil Prices Rebound as India Signals Shift Away From Russian Crude 🛢️📈
Oil futures are bouncing back as markets price in the possibility that India may cut Russian crude imports under a potential U.S. trade deal. India currently buys around 1M barrels per day, and any move to alternative suppliers could tighten supply and lift prices.
The impact is already visible, with Dubai crude spot prices strengthening. The key question now: where will excess Russian oil go — or will production be forced to slow?
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