Russian crude oil shipments to India are set to increase in November as refiners rush to secure cargoes before US sanctions take effect. This matters as it highlights India's reliance on Russian oil amidst changing global supply dynamics.

Indian refiners are preparing for a significant increase in Russian crude oil imports in November, driven by the impending US sanctions on Russian entities, effective November 21. In October, India imported 1.62 million barrels per day (mbd) of Russian crude, a figure expected to rise as refiners expedite the landing of contracted cargoes. The increase is facilitated by quicker vessel turnarounds and front-loaded scheduling. Additionally, US crude shipments to India have surged dramatically, rising to 568,000 barrels per day in October from 207,000 in September, making the US India's fourth-largest supplier. This shift is attributed to favorable economic conditions, including a wider price difference between Brent and WTI crude, and a decrease in Chinese demand for Russian oil.