India, which has been buying large volumes of Russian crude since the Russian invasion of Ukraine to take advantage of cheap oil, is set to slow purchases of Russian oil this month and look to more African and Middle Eastern supply as shipping rates on longer voyages have jumped. Before the war in Ukraine, India was a small marginal buyer of Russian oil. After Western buyers started shunning crude from Russia, India became a top destination for Russian oil exports alongside China. Indian refiners haven't expressed hesitation to deal with Russia—their primary incentive to buy has been the much cheaper Russian oil than ... (full story)