OPEC+ cuts and covid has India eying spot crude to feed lighter diet The Organization of Petroleum Export Countries and partners like Russia began a record output cut of 9.7 million barrels a day last year after the coronavirus pandemic battered demand.Premium 2 min read . Updated: 15 Feb 2021, 07:31 AM IST Bloomberg Spot crude imports into the world’s third-largest oil market will rise by 10% to 15% this year from 2020, according to industry estimates Share Via Read Full Story India’s refiners are turning to spot oil from Africa and North America as long-term suppliers in the Middle East cut output and as demand for gasoline jumps amid the Covid-19 pandemic.