China and India are increasing crude oil purchases, offering relief to oversupply concerns. Middle Eastern cargos are being bought at a discount, with China as the larger buyer. Indian refiners are also buying West African and Qatari crude. Demand centers are limited to China and India, according to Bharat Petroleum.

Russia, facing U.S. sanctions, sees increased crude oil imports from India ahead of sanctions. India imported 3.1 billion euros of Russian energy commodities in October, with crude oil making up 81% of the total. China remains the largest buyer of Russian energy commodities despite the sanctions, according to CREA figures.

China and India are the biggest buyers of Russian crude amidst U.S. sanctions. India ramped up Russian crude imports by 11% in October, with private refiners taking two-thirds of the total. State refiners doubled their Russian energy commodity imports. China remained the top buyer of Russian energy commodities last month.

Oilprice.com reports on China and India increasing crude oil purchases, providing relief to oversupply concerns. Middle Eastern cargos are being bought at a discount, with China as the larger buyer. Indian refiners are also buying West African and Qatari crude. Demand centers are limited to China and India, according to Bharat Petroleum.

Read more at Yahoo Finance: China and India Boost Crude Purchases as Global Glut Looms