China, India May Be Buying More Russia Oil Than Known, US Says
- White House economist Rouse discusses latest moves in prices
- Rouse says she’s heard China, India purchases could be at play
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China and India may be buying more Russian oil than the US previously believed, easing a supply crunch in global markets and potentially driving a recent price decline, one of President Joe Biden’s economic advisers said.
The price of West Texas Intermediate crude has fallen to just over $105 from more than $122 earlier this month -- raising hopes that pressures may ease at the gas pump.