India imported 1.1mln BPD of Russian oil in January, reportedly the lowest level since November 2022

India imported 1.1mln BPD of Russian oil in January, reportedly the lowest level since November 2022.

India's January import of 1.1 million barrels per day (BPD) of Russian oil, the lowest level since November 2022, suggests a potential shift in purchasing dynamics likely influenced by geopolitical pressures and sanctions. This decline could impact global oil supply expectations and pricing, particularly affecting WTI and global crude markets. Watch for implications on energy currency pairs, especially in relation to the USD and JPY.