Crude oil prices remained depressed after dropping to the lowest in almost four years earlier in the week as tariffs on Mexican and Canadian imports into the U.S. went into effect on Tuesday, triggering a selloff.
The United States exported in February the highest crude oil volumes to India in more than two years as Indian refiners scramble for alternative supply after the latest U.S. sanctions on Russia’s oil trade. Last month, U.S. crude oil exports to India jumped to 357,000 barrels per day (bpd), according to vessel-tracking data from Kpler.
Curious Minds Corner
What is the name of the largest oil refinery in the world?
The largest oil refinery in the world is the Jamnagar Refinery in India.