1. Indian Oil Demand Is Firing on All Cylinders Brushing aside Omicron concerns, Indian downstream players have been ramping up refinery runs and are close to running at 100% (with private refiners already at full capacity). According to S&P Global Platts, Indian refinery runs will increase by 370,000 b/d next year to a total of 5.2 million b/d, the first time India’s annual increments will overtake that of China. Indian crude imports have risen to 4.31 million b/d last month, the highest they have been since March, with Middle Eastern producers accounting for roughly 75% of supplies. With West-to-East arbitrage improving amid a strengthening Dubai complex, Indian refiners should see an inflow of crudes coming from the Atlantic Basin in the upcoming weeks. 2. US LNG Exports to Hit All-Time High This Month Source: Kpler. US LNG exports are set to hit a new all-time high on the back […]