India’s fondness grows for Russian ESPO crude, a hot favorite in China

An all-time favorite among China’s private refiners, seaborne Russian ESPO Blend crude oil is starting to attract buyers in India, a trend that could intensify competition between two of Asia’s top oil importers. Although Indian refiners have remained tight-lipped about their recent ESPO deals, talk of multiple import deals being sealed by both private and state-run refiners in the country…