Russian Oil Flows to India Plunge to 310,000 Bpd
5 Articles
5 Articles
Indian refiners are cutting purchases of Russian crude for November delivery after the Urals variety lost its main advantage: low prices. Russian oil loaded from Baltic ports is now being sold at a premium of more than $10 a barrel to Brent, Bloomberg reported, bringing its price almost in line with that of Middle Eastern crude. The shift is prompting Indian companies to shift some of their orders to Gulf suppliers. Some Russian cargoes original…
Russian Oil Flows to India Plunge to 310,000 Bpd
India is reducing its imports of crude oil from Russia, but mostly not because of the U.S. tariff threat for buying Russian oil. Economics have always been driving Indian refiners’ purchases, and the past few weeks haven’t been different. Russia is scaling back imports of Russian oil as the price of Russia’s flagship Urals grade loaded in the Baltic ports has jumped and now nearly equals the prices of Middle Eastern crudes, whose availability h…
Average supplies of Russian oil for four weeks were only about 310,000 barrels per day, the lowest since March 2022
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