Asia’s Shift in Crude Oil Imports

Asia’s crude oil markets are rapidly adjusting to new sanctions on Russia, leading to significant changes in oil sourcing. India has notably increased its intake of Russian oil, reaching a high of at least 1.71 million barrels per day, while China’s imports have decreased significantly. To compensate, China is increasing purchases from Angola and Brazil. These shifts highlight the region’s dynamic response to geopolitical events and trade policies.