India’s major shift in its oil purchasing pattern last month from Russia to Saudi Arabia is unlikely to be sustained. The scale and scope of the pivot towards Russia and away from what the U.S. had planned for India could not have been more stunning. India continues to cooperate with Russia in several key sectors such as energy, industry and even defense. India’s major shift in its oil purchasing pattern last month from Russia to Saudi Arabia has been interpreted by many global oil market participants as an early sign that the role Washington had envisioned for the country at the time of the 2020 ‘relationship normalisation’ deals might be in play again. This buying pattern, though, is unlikely to be sustained and, even if it is, Saudi Arabia and Russia are still working too closely together in the oil market to allow the U.S. any greater leverage over […]