India's Russian crude oil imports are set to reach 1.8 million barrels per day in May, driven by demand for lighter grades like ESPO Blend. This has increased competition with China, pushing up ESPO prices and benefiting from available supply due to Chinese restrictions.

• India's imports are at a 10, month high.
• Demand for ESPO Blend is particularly strong.
• Chinese demand is impacted by quotas & sanctions.