Kepler Sees No Immediate Cut In Russian Oil Imports; Oil & Gas Stocks Rise

Russian oil flows into India remain steady for now, easing near-term concerns for refiners. A Kepler report suggests there is no immediate risk of a sharp cut in Russian crude imports, with supply deals already locked in for the next 10 weeks. Any rapid exit from Russian oil would pose operational challenges for Indian refiners. The report adds that US crude imports are expected to rise to about 10% of India’s total intake, largely replacing African barrels rather than Russian supplies. With OPEC keeping production unchanged amid geopolitical uncertainty, oil and gas stocks gained, led by ONGC and Oil India, while refiners traded higher, supporting the broader market.