Refiners are benefiting from strong margins after Russia’s export ban and tighter Middle East supplies, a combination that has lifted export economics.
India’s oil-product exports are set to reach their highest level since September as domestic refiners capitalize on stronger margins. The improved economics follow Russia’s export ban and tightening supply from the Middle East, both of which have supported overseas demand and made shipments more attractive. The development points to a rebound in refined-product exports as traders and processors respond to disruptions in global fuel flows.