Indian refiners purchase more US crude before trade talks in May
29 April 2025
Time to read: minutes
“WTI has to discount significantly more than usual to incentivize the rest of Asia to take in the barrels,” said June Goh, a senior oil market analyst at Sparta.
Bloomberg, April 29, 2025 – Indian refiners ramped up US crude purchases ahead of May trade talks, with 11.2 million barrels set to arrive in June, the most since August 2024. June Goh from Sparta Commodities noted that discounted WTI prices, driven by weak demand in Singapore and China, are spurring Asian buying, while India leverages these purchases as a geopolitical tool to negotiate lower US tariffs.
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