According to shipping data, the top buyers of Russian seaborne fuel in July were Saudi Arabia and India, although India has backed off Russian oil imports slightly.
Reuters on Tuesday cited industry data that showed Saudi Arabia purchased about 1.1 million metric tons of fuel oil and vacuum gasoil (VGO) from Russia in July, holding fairly steady from June. Saudi Arabia and other Middle Eastern countries tend to increase their imports of such fuels during the summer due to high demand for energy to power air conditioners.
India still seems intent on taking advantage of discounts offered by Russia after many other customers began boycotting…
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