How Fuel Exporters in India and US Are Benefiting Amid Oil Supply Disruptions The ongoing Middle East crisis and Russia Ukraine war have created a new landscape for oil supply disruptions.
In this context, India and the United States have emerged as beneficiaries, with their refineries increasing exports to markets previously reliant on supplies from the Middle East and Russia.
According to International Energy Agency data, global refinery output plummeted by 5 million barrels per day in July compared to the previous year, while oil demand remains above 100 million barrels per day.