US EditionMillions of Barrels of Russian Oil Are Currently Stranded at Sea as Major Buyers Look Elsewhere, Reducing the Kremlin’s Military Funding.
5 Articles
5 Articles
For a long time, India has stressed not to be influenced by energy policy – but now the government has fallen under pressure from US President Trump. Almost all Indian oil companies have suspended their orders from Russia. A step with painful consequences for Moscow.
The decline in the flow of oil from Russian ports coincided with the drop in prices.
Interest in Russian oil is at its lowest in two months. Its price has fallen the most since the war in Ukraine began. The country has to sell it much cheaper than the rest of the world. The price of Russian Urals oil is now up to twenty dollars per barrel lower than the world standard Brent. US sanctions against energy giants Rosneft and Lukoil played a key role in this.
Millions of barrels of Russian oil are currently stranded at sea as major buyers look elsewhere, reducing the Kremlin’s military funding.
For three weeks, seaborne Russian oil shipments have dropped, hitting a two-month low after US sanctions led some Asian countries to scale back their purchases. As a result, over 350 million barrels are now stored on tankers – a 7% rise since early September. This reduced supply and lower prices have pushed Russian oil export revenues to their lowest point since August, with October’s oil earnings down nearly 25% from last year. China and India …
Urals discounts are close to $20 a barrel.
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