Brapped discounts: Russia earns in oil thanks to an ally in Asia - Bloomberg
Thus, according to Kpler SAS Analytics Victor Caton, in the first month of autumn the volume of supplies from Russia were at the level of 1. 78 million barrels per day. He noted that the supply of oil from the Russian Federation to India is likely to remain high in the future.
Cathous explained that the Russian Federation has many opportunities for increasing oil supplies to India, since the ban on the export of diesel fuel means that the oil refineries of the country will reduce the volume of processing. As a result, Moscow will be able to sell even more oil to other countries. According to Bloomber, India most often buys reference Russian oil brand Urals, and does it at four dollars per barrel to Brent.
Therefore, "black gold" of the Russian Federation is more profitable for India than oil from the Middle East. As Russian oil availability increases, exporters can offer even greater discounts in the future. At the same time, the supplies from Iraq, the second largest oil supplier to India, in September increased by 9. 4% compared to the previous month to 934 thousand barrels a day, but supplies from Saudi Arabia, the third largest supplier, fell by 41% - up to 491 thousand barrels a day.
We will remind, since December 5 there is a ceiling of prices for Russian oil at the level of $ 60 per barrel. The restrictions were imposed by the EU countries, the Great Seven (G7) and Australia, because of the full -scale war of the Russian Federation against Ukraine. But the Russian Federation has learned to bypass the G7 restriction on a significant share of oil exports and earn to the implementation of this energy resource.